SN Power is a defunct company that invests in clean, renewable energy on a commercial basis in emerging markets. SN Power was acquired by Scatec on 29 January 2021.[1]
History
The company was established in 2002.[2] Along with Norfund, the Norwegian Investment Fund for Developing Countries, Statkraft created the international power company Statkraft Norfund Power Invest (in short called SN Power). The company was formed to promote economic growth and sustainable development in new and emerging markets. In May 2003, SN Power made its first investment, with the acquisition of 30 per cent of Nividhu in Sri Lanka, a venture partner that operates the power plants Assupiniella and Belihuloya.[3]
SN Power AS was reestablished as a new company[4] in 2013 after its parent company Statkraft and Norfund decided to make changes to their share portfolios.[5]