TotalEnergies to acquire SN Power from Scatec.

TotalEnergies, a global integrated energy company, agreed to acquire SN Power, a hydro power producer and developer, from Scatec, a Norwegian company which specializes in renewable energy systems. Financial terms were not disclosed. “We are pleased to announce today’s transaction, as we believe TotalEnergies will be a strong asset owner going forward, with the ability to further develop the projects and contribute to the energy transition in Africa. We would like to thank the entire hydropower team for their hard work and dedication over the years, you have made a significant impact. In addition, our gratitude goes to our joint venture partners, host governments, and lenders for the support since 2020,” Terje Pilskog, Scatec CEO.