SN Power (60%-owned by Statkraft) entered into an agreement to acquire a major shareholding (40.65%) in Desenvix, a renewable power company in Brazil. Desenvix has a portfolio of renewable energy assets of 162 MW in operation, 176 MW under construction, as well as a large portfolio of projects under development of about 1,600 MW. The assets are mainly hydropower, but also include two wind farms and a biomass plant under construction. The transaction also includes Desenvix 50% shareholding in Enex, a company specializing in Operation & Maintenance of small and medium sized hydroelectric plants.
Through the acquisition of a 40.65% shareholding in Desenvix, SN Power will form a Joint Venture partnership with Desenvix´current owners Jackson and Funcef to focus on further hydropower development in Brazil. Following the acquisition, SN Power and Jackson will have joint control of Desenvix with a 40.65% shareholding each, while Funcef will retain a minority shareholding of 18.69%.