. home.aspx

NEWS

home.aspx
   


Scatec Solar Acquires SN Power, Establishing Global Leader in Renewable Energy

October 16, 2020 / Globenewswire
SHARESHARESHARE

Scatec Solar has signed a binding agreement to acquire 100% of the shares in SN Power, a leading hydropower developer and IPP, from Norfund for a total equity value of USD 1,166 million. The acquisition forms an important part of Scatec Solar’s broadened growth strategy, with an ambition to become a global large-scale player in solar, hydro, wind and storage solutions, and an integrator of high-value infrastructure solutions. Scatec Solar and SN Power have a unique and complementary portfolio of assets, geographical footprint and capabilities, and will together hold a large project pipeline across solar, hydro, wind and storage. The combined company will have 450 employees, power plants in 14 countries and gross 3.3 GW of plants in operation and under construction. When all plants are in full operation from early 2021, the median annual production is expected to be 4.1 TWh.