New ownership and growth for Energy Solutions
Hydro Rein has reached an agreement for the sale of its Energy Solutions unit to Norway-based Global Green Asset Management. The transaction includes all Energy Solutions assets in Sweden, Germany, and Canada.
The new ownership is supported by industry expertise and current Energy Solutions employees. Several employees will continue with the business and become co-owners, providing continuity, operational stability, and strong customer relationships.
Hydro Rein pursues a long-term ownership strategy, growing its renewable energy portfolio through development and selective acquisitions, while expanding its presence across the Nordics and Europe. The transaction aligns with Hydro Rein's strategic focus on large-scale renewable assets to serve industrial power demand. Following a period of organizational change aimed at strengthening the company in a challenging market, Hydro Rein is concentrating its resources on projects with greater scale and portfolio significance.
Energy Solutions delivers behind-the-meter energy solutions, including rooftop solar and battery systems, for industrial customers. Under the new ownership, the company will operate as an independent business with a clear ambition for optimized operations and continued growth.
"Hydro Rein has been an incubator for Energy Solutions, and the unit is now ready to take the next step as an independent company. The transaction creates a strong foundation for future growth for Energy Solutions, while allowing Hydro Rein to sharpen focus on large scale renewable energy development, and exit a non-core business with limited synergies and scale," says Astrid Martinsen, Interim CEO of Hydro Rein.
"This solution ensures reliable operations and strong deliveries for our customers. We secure continuity and further development of the Energy Solutions business, and both customers and assets will be well taken care of going forward," says Marianne Wergeland Jenssen, Head of Energy Solutions.
Global Green Group is a Norway-based investment group focused on technologies and solutions facilitating the green transition within the industrial sector. The company is led by Peer Brantzeg.
"With an established customer base, proven solutions, and profitable assets in operation across multiple markets, Hydro Rein's Energy Solutions unit represents a strong platform for scalable growth. We see significant untapped potential in small-scale energy production and energy efficiency within industrial facilities, and we will actively drive the deployment of these solutions to help companies unlock value on their own sites," says Peer Brantzeg.
Energy Solutions' assets at Hydro Vigeland aluminium refinery in Norway are not part of the transaction.
About Hydro Rein
Hydro Rein is a renewable energy company committed to serving sustainable industrial development. The company develops, owns, and operates renewable energy assets that provide long-term, reliable power to industrial customers and local communities. Hydro Rein is co-owned by Norsk Hydro, a global aluminium and renewable energy company, and Macquarie Asset Management, a leading global infrastructure investor. The company is developing a diversified portfolio of wind, solar, and battery projects across its core markets in Europe and Brazil.
Published: January 6, 2026