The Norwegian solar developer Scatec Solar has signed a binding agreement to acquire the hydropower company SN Power from Norfund for a total consideration of US$1.2bn (€996m). The merged company will have a 3.3 GW total gross portfolio of renewable (solar, hydro, wind and storage) power plants in operation and under construction. When all power plants are fully commissioned from early 2021, the median annual production is expected to reach 4.1 TWh.
The transaction comprises SN Power’s portfolio of hydropower plants in the Philippines, Laos and Uganda with a total gross capacity of 1.4 GW (net 0.5 GW) and gross median production of 6.1 TWh (net 1.8 TWh). Scatec Solar will create a new joint venture with Norfund for SN Power’s Sub-Saharan Africa hydro assets and to develop the hydropower pipeline in the region. Scatec Solar has a total of 1.9 GW in operation and under construction and is targeting a capacity of 4.5 GW in operation and under construction by end-2021.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.