Skip to main content

Scatec ASA completes acquisition of SN Power

Written by Customer Service on . Posted in Public Companies.

Oslo, 29 January 2021: Reference is made to the stock exchange release on 16 October 2020 where Scatec announced that it had signed a binding agreement to acquire 100% of the shares in SN Power from Norfund for a total equity value of USD 1,166 million. Scatec has now received all necessary approvals and conditions are fulfilled to close the acquisition pursuant to the agreement with Norfund.The acquisition is fully funded through cash and a USD 200 million vendor note, a USD 150 million term loan, and a USD 400 million acquisition finance facility provided by Nordea, DNB and Swedbank.      From today, Jarl Kosberg has been appointed EVP Project Development Hydropower, reporting to CEO Raymond Carlsen. Kosberg has more than 35 years’ experience from international energy projects and leadership positions in companies such as Exxon, Aker & Kvaerner, Statkraft & SN Power and Green Resource.Earlier this week, the acquisition of SN Power’s first wind farm, the 39.4 MW Dam Nai wind project in Vietnam was completed. The asset consists of 15 Siemens wind turbine generators, each with a rated capacity of 2.625 MW. The average annual generation is 123 GWh with expected annual revenues of USD 10.5 million under the 20-year Feed in Tariff scheme for wind in Vietnam.With SN Power, Scatec will significantly increase scale and cash flow from operating plants with a total of 3.3 GW in operation and under construction, and a project pipeline of almost 10 GW. The company will have 450 employees, power plants in 14 countries and the median annual production is expected to be 4.1 TWh when all plants are in full operation during first half of 2021.For further information, please contact:
 Ingrid Aarsnes, VP Communication & IR
 Tel: +47 950 38 364, Ingrid.aarsnes@scatec.comAbout Scatec ASA:
 Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. The company recently acquired SN Power, a leading hydro power developer and IPP. In 2021, Scatec will have a total of 3.3 GW in operation on four continents and 450 employees. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com, or connect with us on Linkedin.This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.