SEB Nordic Energy

Overview

SEB Nordic Energy is a renewable energy fund focusing on direct investments in renewable energy infrastructure assets in the Nordic region. The fund invests in geothermal energy systems, hydropower plants, solar energy, wind energy, and cogeneration/combined heat and power facilities, both through new construction and by upgrading existing facilities to increase efficiency and energy output. The fund is open for institutional investors with an investment horizon of more than 15 years and is closed-end. The fund's strategy includes investments in weather-dependent energy sources like solar and wind power, plannable energy production such as hydropower, and necessary infrastructure like local grids needed to enable power production and transfer. Additionally, the fund may opportunistically invest up to 30% of its assets into other energy investments, such as energy storage systems. The fund aims to strengthen energy security in the Nordic region while delivering stable, long-term returns. As of April 2026, SEB Nordic Energy's assets under management increased sharply after new and existing investors contributed close to SEK 4 billion during the first quarter, bringing the total to just over SEK 8 billion. The fund has already invested most of the capital and plans further investments during the year. Through its portfolio company Locus Energy, the fund has invested SEK 6.4 billion in energy assets and is considered well-positioned for new acquisitions ahead of 2026. The fund has also completed the largest so-called soft repowering project in the Nordic region, where seven existing wind turbines were upgraded by replacing the turbines while retaining existing infrastructure such as roads, grid connections, towers, and foundations. The measure is expected to more than double electricity production. The fund's portfolio is diversified, with hydropower accounting for 59%, wind power for 22%, and battery storage for 19% of the fund’s assets as of January 2026. The fund is classified under EU Sustainable Finance Disclosure Regulation as an Article 9 fund, a fund that has sustainable investment as its objective. The fund will report according to the EU Taxonomy and contribute to SEB Investment Management’s overarching aim to align investments with the Paris Climate Agreement and to reach net zero greenhouse gas emissions from its investments by 2040.

Investment Focus

• Institutional investors with an investment horizon of more than 15 years

Portfolio Companies