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SN Power is a company.
Key people at SN Power.
SN Power developed and operated large-scale hydropower facilities, primarily in emerging markets. Its core activity involved identifying, building, and managing hydroelectric power plants to provide sustainable energy. The technical approach focused on long-term asset development and responsible operation, enhancing energy security and grid stability where demand grew.
SN Power was established in 2002 as a joint venture between Statkraft, a major international renewable energy provider, and Norfund, the Norwegian Investment Fund for Developing Countries. The founding insight combined Statkraft's hydropower expertise with Norfund's mission for sustainable investments in developing economies, aiming to address energy shortages through clean generation.
The company's projects supplied essential electricity infrastructure to populations and industries in its operational emerging markets. SN Power’s vision was to be a responsible hydropower developer, creating lasting value through renewable energy solutions. It aimed to expand reliable power access and contribute to a sustainable energy future in these vital regions.
Key people at SN Power.
SN Power was a renewable energy company specializing in the development, construction, and operation of hydropower plants in emerging markets, primarily in Southeast Asia, Africa, and Central America.[1][2][3] Focused on clean, renewable energy investments on a commercial basis, it managed a portfolio of over 38 hydropower assets producing around 15 TWh annually, equivalent to about 10% of Norway's total power production, with key assets in countries like Uganda, Zambia, Laos, Philippines, and Panama.[2][4] The company operated as a subsidiary, headquartered in Oslo, Norway, with a multinational team, before being fully acquired and integrated into larger entities, rendering the standalone SN Power defunct by 2021.[2][7]
SN Power originated in 2002 as a joint venture between Statkraft and Norfund, Norway's Investment Fund for Developing Countries, named Statkraft Norfund Power Invest, to promote economic growth and sustainable development through hydropower in emerging markets.[2][4] Its first investment came in May 2003 with a 30% stake in Sri Lanka's Nividhu power plants.[2] By 2013-2014, Statkraft and Norfund restructured their partnership, extending it to 2023 and establishing SN Power AS as a new entity in June 2014, streamlining focus on Southeast Asia, Africa, and Central America while integrating other assets into Statkraft.[1][2] Norfund eventually became the full owner before selling to Scatec in 2020-2021 for NOK 10.9 billion, marking the end of its independent phase.[2][4][6]
SN Power rode the global shift toward renewable energy in emerging markets, where hydropower provides stable, clean baseload power amid rising demand and climate goals, influencing energy access in developing regions like East Africa and Southeast Asia.[2][5][6] Its timing capitalized on post-2000s liberalization in markets like Uganda and Laos, enabling private investment where public funding fell short, and supported regional integration (e.g., Ruzizi III across Rwanda, Burundi, DRC).[1][6] By developing assets like Bujagali (225 MW) and pipelines in Rwanda (206 MW) and Malawi (360 MW), it bolstered local grids, economic growth, and peacebuilding, while its sales to Scatec, TotalEnergies, and others mobilized billions in private capital, amplifying renewable scaling in underserved ecosystems.[5][6][8]
SN Power's legacy endures through its divested assets, now powering grids under owners like TotalEnergies (African portfolio including Bujagali, Rwanda, Malawi projects) and Globeleq (Zambia), contributing to targets like TotalEnergies' 35 GW renewables by 2025.[5][6][8] Trends in hydropower growth—driven by energy security, electrification in Africa, and green hydrogen integration—will shape these assets' expansion, with regional cooperation and private capital inflows accelerating development. Its influence evolves from operator to catalyst, having proven scalable renewables in tough markets, tying back to its founding mission of sustainable power for emerging economies.[2][4][6]