SN Power is jointly owned by Statkraft and Norfund. In addition BKK has a ownership share in Agua Imara AS. Their complementary skill sets in hydropower and development investment in emerging markets underpin the SN Power Group’s business strategy and competitive edge.
In June 2013 Statkraft and Norfund agreed to expand the agreement to develop hydropower projects through SN Power until 2023. They also agreed to change SN Power’s geographical focus from Latin America and Asia to Africa, South-East Asia and Central America. The two owners also agreed to continue putting equity into SN Power.
In the reorganisation that was finalised in June 2014, Statkraft expanded its business area International Hydro and took over the previous SN Power companies in India, Nepal, Sri Lanka, Brazil, Chile, and Peru.
The business in Africa and Central America will, as previously, be performed through the subsidiary Agua Imara AS.
To utilize the construction competence and experience in both SN Power and Statkraft, a separate Project and Construction unit has been established within Statkraft International Hydropower. This unit shall be a preferred supplier of project and construction execution services to all international hydropower projects within SN Power and Statkraft.
Statkraft is Europe’s largest generator of renewable energy and is the leading power company in Norway. The company owns, produces and develops hydropower, wind power, gas power and district heating. Statkraft is a major player in European power trading and has 3600 employees in more than 20 countries.
Norfund (the Norwegian Investment Fund for Developing Countries) is owned by the Ministry of Foreign Affairs and serves as an instrument in Norwegian development assistance policy. The fund contributes to poverty reduction and economic development through investments in profitable businesses and transfer of knowledge and technology. The current investment portfolio of Norfund totals USD 1.3 billion invested in 107 different projects.
BKK (Bergenshalvøens Municipal Power Company) has close to 100 years of experience in manufacturing, wholesale and transmission of electric power in Norway. It owns and operates more than 31 hydropower plants with an average annual production of 6.7 TWh.