Scatec ASA Successfully Acquires SN Power

Energy Markets Feed

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.

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.

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.