The company acquired Norsk Grønnkraft, an operator of 33 small-scale plants located in central and southern Norway, from owners Akershus Energi, Energiselskapet Buskerud, E-CO Energi and Østfold Energi.
The average age of the facilities, which generate 210 GWh of energy a year, is eight years.
The acquisition further expands Aquila Capital’s presence in Norway’s hydropower battery network.
Aquila had earlier acquired a 33% stake in Tinfos, which operates two large-scale and nine small-scale run-of-river hydropower facilities, and a 33% interest in Jørpeland Kraft, an operator of two run-of-river installations in the vicinity of Stavanger in western Norway.
Aquila Capital hydropower co-head Oldrik Verloop said: "We aim to increase our production volume in Norway during the next five years to over 1,000 GWh.
"Aquila Capital clients currently have a share in more than 50 hydropower generating facilities in Norway and Turkey. We are actively looking at further opportunities across Europe and expect to be making more investments in the course of 2015."
Norway is also reportedly close to agreeing to build a 700 km underwater power line that will enable the UK to import hydroelectric power from the country’s grid.
The development of the world’s largest subsea interconnector is expected to be in operation by 2020.
