The transaction is the largest within the Norwegian hydropower sector in several years.
The agreement was signed on 7 November at Thommessen's offices in Oslo. Pareto Securities acted as financial advisor for Aquila.
Aquila Capital is one of Europe's largest independent investment funds managing over 7 billion Euros.
Norsk Grønnkraft owns and operates a portfolio of 33 small scale hydropower plants in Norway. The Company is owned by Akershus Energi Vannkraft AS, EB Kraftproduksjon AS, E-CO Energi AS and Østfold Energi AS.