DWK Deutsche Wasserkraft AG has signed a framework and service agreement with Norway-based OdelEnergy AS to develop and build small hydropower plants with a total planned annual output of 95 gigawatt hours (GWh).
The first phase of the partnership includes up to 15 plants. OdelEnergy will be responsible for design, development, and construction, while DWK will provide financing and project oversight.
DWK has secured a right of first refusal on specific project rights in Southern Norway. The companies expect an investment volume of about €50 million until commissioning, financed with partner banks. They also plan to expand cooperation on future Norwegian projects.
The agreement follows a memorandum of understanding signed between the two companies in February 2025.
DWK, headquartered in Hamburg, is a German-Norwegian energy company specializing in small run-of-river hydropower plants. It is Germany’s first publicly listed independent hydropower producer.
