The Norwegian companies Statkraft and Norfund have inked a deal to swap shares in their jointly owned international hydropower assets. In addition to the swap of shares, Norfund will make a cash payment to Statkraft but the amount was not disclosed. Statkraft will sell its stake in SN Power to Norfund while Norfund will divest its interest in Statkraft IH Invest AS (SKIHI) to Statkraft. With the deal, Statkraft strengthens its foothold in South America and South Asia while Norfund increases its position in Southeast Asia and Africa.
Until the completion of the transaction, Statkraft and Norfund jointly owned SN Power with a 50% stake each. SN Power holds several hydropower assets in Zambia, Lao PDR, Philippines and Panama. In the meantime, Statkraft owned 81.9% and Norfund 18.1% of the shares in SKIHI, which operates mainly hydropower facilities in Peru, Brazil, Chile, India and Nepal.
In 2016, SN Power's equity share in several projects around the world amounted around 450 MW of installed capacity and generated around 1,213 GWh of net production.
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