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SN Power

SN Power was established in 2002 as a joint venture between Norfund and Statkraft. The company is a leading commercial investor and developer of hydropower projects in emerging markets. It is Norfund's largest investment.


SN Power's mission is to become a leading hydro­ power company in emerging markets, contributing to economic growth and sustainable development. Currently Statkraft and Norfund owns 50% share each.

Norfund has invested more than NOK 2000 million via SN Power in equity through acquisitions and development  of hydropower projects in Africa, Central America and South East Asia. BKK is a co-investor in the activities in Central America and South East Asia. 

A new company, called Agua Imara, was established in January 2009 to develop hydropower in Africa og Central America. Norfund has invested in Agua Imara directly as well as through the ownership in SN Power. 

SN Power and its subsidiaries had over 500 employees worldwide at year­ end 2012. By year end of 2012 SN Power reported US$2.6 billion in total assets and US$1.9 billion in equity on a consolidated basis.

As part of the Statkraft Group, SN Power has a strong industrial foundation that builds on more than 100 years of developing, owning and operating hydropower in Norway. Statkraft  is the largest renewable energy company in Europe with about 57 TWh in annual electricity production. 

In 2014 an agreement was signed with Statkraft on the restructuring and extension of cooperation on hydropower. Norfund now owns 50% of SN Power AS, which covers Africa, Central America and Southeast Asia. Norfund also ownes 33% of SKIHI which has power plants in South America and southern Asia.

 

Facts

  • Company: SN Power
  • Sector: Renewable energy
  • Investment year: 2002
  • Instrument: Equity
  • Committed amount (MNOK): 2125.9