SN Power

SN Power was a Norwegian renewable-energy investment company established to invest commercially in clean power projects in emerging markets. Its principal area of activity was hydropower, including the acquisition, development, construction, and operation of generating assets and related power businesses. The company was created in 2002 by Statkraft, Norway's state-owned power producer, and Norfund, the Norwegian Investment Fund for Developing Countries. Its original name, Statkraft Norfund Power Invest, reflected the partnership between the two founding institutions. The venture combined Statkraft's power-sector expertise with Norfund's development-finance mandate. Its stated purpose was not only to pursue commercial returns but also to support economic growth and sustainable development in new and emerging markets. In May 2003, SN Power made its first investment by acquiring a 30 percent interest in Nividhu in Sri Lanka. Nividhu was a venture partner operating the Assupiniella and Belihuloya power plants, making the transaction an early example of SN Power's approach of investing alongside local or regional operating partners. SN Power subsequently built an international portfolio of hydropower interests. Its activities extended across Southeast Asia, Africa, and Central America, with operating plants and projects reported in the Philippines, Zambia, Laos, Uganda, and Panama. The company also maintained an office in the Netherlands in addition to its Oslo headquarters. Rather than functioning as a conventional consumer-facing electricity retailer, SN Power operated as an infrastructure investor and project company whose work centered on power assets, partnerships, and long-term renewable-generation projects. The ownership structure changed materially during the company's history. In 2013, SN Power AS was reestablished as a new company after Statkraft and Norfund revised their respective international asset portfolios. On 27 September 2017, the two owners completed an agreement to exchange holdings in their jointly owned international hydropower assets. Under that arrangement, Statkraft transferred all of its shares in SN Power to Norfund, while Norfund transferred its interest in Statkraft IH Invest AS to Statkraft. Before the transaction, each institution held 50 percent of SN Power. The reorganization left SN Power fully owned by Norfund and gave Norfund a larger presence in Africa and Southeast Asia, while Statkraft consolidated other international hydropower holdings in its own investment structure. SN Power remained focused on renewable generation in developing and emerging markets, with a multinational workforce supporting operating assets and projects. The company ceased to exist as an independent business after Scatec acquired it on 29 January 2021. The acquisition marked the end of SN Power as a standalone corporate platform and transferred its business into Scatec's renewable-energy portfolio.

SN Power originated in Norway's effort to combine commercial renewable-energy investment with development objectives in emerging markets. Statkraft and Norfund established the company in 2002 under the name Statkraft Norfund Power Invest. Statkraft brought the capabilities of a major Norwegian power company, while Norfund supplied the perspective and investment mandate of Norway's development finance institution. The resulting company was intended to promote economic growth and sustainable development through investment in clean energy. The company's first recorded investment took place in May 2003, when it acquired a 30 percent stake in Nividhu in Sri Lanka. Nividhu operated the Assupiniella and Belihuloya power plants, and the investment established SN Power's model of participating in power businesses through partnerships rather than limiting its activities to wholly owned facilities. Hydropower became the central focus of the portfolio and remained the company's defining business area. Over time, SN Power expanded its activities beyond Sri Lanka into several emerging-market regions. Its operations and projects included Southeast Asia, Africa, and Central America. Plants and activities were reported in the Philippines, Zambia, Laos, Uganda, and Panama. The company concentrated on the acquisition, development, construction, and operation of hydropower assets. It also developed an international organizational footprint, with its main headquarters in Oslo and an office in the Netherlands, supported by personnel working across its operating countries and projects. The corporate structure was revised in 2013. SN Power AS was reestablished as a new company after Statkraft and Norfund decided to change the composition of their international investment portfolios. At that point, the company continued to serve as a vehicle for international hydropower ownership and development, but its role within the two institutions' broader asset strategies was being reconsidered. A major restructuring followed in 2017. On 27 September, Statkraft and Norfund completed an agreement to exchange interests in jointly held international hydropower assets. Before the exchange, the two institutions each owned half of SN Power. Statkraft sold all of its SN Power shares to Norfund, and Norfund sold all of its shares in Statkraft IH Invest AS to Statkraft. The latter company held hydropower assets in countries including Peru, Brazil, Chile, India, and Nepal. The exchange therefore separated the partners' international portfolios: Norfund increased its ownership and presence in SN Power's activities, particularly in Africa and Southeast Asia, while Statkraft consolidated a different group of international assets. After the transaction, SN Power was fully owned by Norfund. SN Power continued operating renewable-energy assets and projects in its established markets until it was acquired by Scatec on 29 January 2021. The acquisition ended SN Power's status as a standalone company. Its history is consequently defined by three phases: formation as a Statkraft-Norfund joint venture, consolidation under Norfund following the 2017 asset exchange, and absorption into Scatec in 2021.

• 2021

  Acquired by Scatec

  [1]SN Poweren.wikipedia.org

  Scatec acquired SN Power on 29 January, ending the company's independent existence.

• 2017

  Norfund becomes sole owner

  [1]SN Poweren.wikipedia.org

  Statkraft and Norfund completed an asset and share exchange under which Statkraft transferred its SN Power shares to Norfund.

• 2013

  SN Power AS reestablished

  [1]SN Poweren.wikipedia.org

  SN Power AS was reestablished as a new company following changes to the international asset portfolios of Statkraft and Norfund.

• 2003

  First investment in Sri Lanka

  [1]SN Poweren.wikipedia.org

  SN Power acquired a 30 percent interest in Nividhu, a Sri Lankan venture partner operating the Assupiniella and Belihuloya hydropower plants.

• 2002

  Company established

  [1]SN Poweren.wikipedia.org

  Statkraft and Norfund established Statkraft Norfund Power Invest, later known as SN Power, to invest in clean energy in emerging markets.

A Norwegian development-oriented infrastructure investor focused on commercial hydropower and other clean-energy opportunities in emerging markets.

• Renewable power generation · 2002

  Hydropower investments

  SN Power's core business was investing in hydropower companies, plants, and projects in emerging markets. Its portfolio approach included direct ownership interests and partnerships with local or regional operators. The company sought to combine commercial investment with the broader development aims of its Norfund ownership.

• Power infrastructure services

  Hydropower project development and operations

  Beyond holding investments, SN Power participated in the development, construction, and operation of renewable generating assets. Reported operations included plants and projects in the Philippines, Zambia, Laos, Uganda, and Panama, supported by a multinational team working across its international platform.

• 2021

  Sell SN Power to ScatecM&A

  Background

  SN Power had developed an international portfolio of renewable-energy investments and was wholly owned by Norfund before the transaction.

  Action taken

  Scatec acquired SN Power on 29 January 2021.

  Aftermath

  SN Power became a defunct standalone company and its business was transferred into Scatec's renewable-energy activities.

  Source

• 2017

  Reorganize international hydropower ownershipStrategy

  Background

  Statkraft and Norfund reviewed the ownership of their jointly held international hydropower assets and agreed to exchange interests in SN Power and Statkraft IH Invest AS.

  Action taken

  Statkraft transferred all of its shares in SN Power to Norfund, while Norfund transferred all of its shares in Statkraft IH Invest AS to Statkraft.

  Aftermath

  Norfund became the sole owner of SN Power and increased its concentration on assets and activities in Africa and Southeast Asia.

  Source

1. 1SN Poweren.wikipedia.org