Scatec Solar to acquire hydropower firm

30th October 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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European photovoltaic (PV) company Scatec Solar will be acquiring 100% of the shares in hydropower developer and independent power producer (IPP) SN Power from Norwegian investment fund Norfund for just over $1.17-billion.

The acquisition forms an important part of Scatec’s broadened growth strategy, with an ambition to become a global large-scale player in solar, hydro, wind and storage solutions, and an integrator of high-value infrastructure solutions.

Scatec and SN Power have a unique and complementary portfolio of assets, geographical footprint and capabilities, and will together hold a large project pipeline across solar, hydro, wind and storage, the companies noted in an October 16 statement.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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