Scatec Solar to acquire SN Power from Norfund for $1.17bn.

Scatec Solar, a builder and operator of solar power plants, agreed to acquire SN Power, a hydropower developer, from Norfund, a private equity firm, for $1.17bn. “Hydropower and solar PV are complementary technologies, resulting in new project opportunities, for instance floating solar on hydro reservoirs. With this transaction we see great potential in broader project origination and geographical expansion into growth markets in South East Asia and Sub-Sahara Africa. SN Power adds scale and significant cash flow from operating plants and will raise stakeholder value; benefiting customers, employees, shareholders, business partners and the societies in which we operate,” Raymond Carlsen, Scatec Solar CEO.