https://newsletter.en.creamermedia.com
Building|Construction|Energy|Flow|Power|PROJECT|Renewable Energy|Solar|Storage|Flow|Solutions|Infrastructure
Building|Construction|Energy|Flow|Power|PROJECT|Renewable Energy|Solar|Storage|Flow|Solutions|Infrastructure
building|construction|energy|flow-company|power|project|renewable-energy|solar|storage|flow-industry-term|solutions|infrastructure

Scatec acquires SN Power

1st February 2021

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

Renewable power producer Scatec on February 1 confirmed that it had received all necessary approvals for its $1.16-billion buyout of SN Power from Norfund and that all suspensive conditions have been met.

“This acquisition forms a very important part of our broadened growth strategy, with ambitions to become a global player in solar, hydro, wind and storage solutions, and an integrator of high-value infrastructure solutions," said Scatec CEO Raymond Carlsen.

Through the acquisition of 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.

"We are looking forward to start working together with our new colleagues from SN Power and I trust that we will be successful in building a global leader in renewable energy," said Carlsen.

The acquisition is fully funded through cash and a $200-million vendor note, a $150-million term loan and a $400-million acquisition finance facility provided by Nordea, DNB and Swedbank.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (08/11/2024)
8th November 2024 By: Martin Creamer
Magazine round up | 08 November 2024
Magazine round up | 08 November 2024
8th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.085 0.184s - 211pq - 2rq
Subscribe Now