SN Power AS (formerly called Statkraft Norfund Power Invest AS) invests in clean, renewable energy on a commercial basis in emerging markets. The company focuses on investments in hydroelectricity and has several running plants in the Philippines, Zambia and Panama. The company operates in Southeast Asia, Africa and Central America and has established offices in Netherlands, Singapore, Philippines, Zambia, Mozambique, and Panama. The company is a joint venture between Statkraft and Norfund, both owned by the Government of Norway.
The company was established in 2002. Along with Norfund, the Norwegian Investment Fund for Developing Countries, Statkraft created the international power company Statkraft Norfund Power Invest (in short called SN Power) in 2002. The company was formed to promote economic growth and sustainable development in new and emerging markets. SN Power was a continuation of efforts that Statkraft began in the 1990s with projects in Laos and Nepal. In May 2003, SN Power made its first investment, with the acquisition of 30 per cent of Nividhu in Sri Lanka, a venture partner that operates the power plants Assupiniella and Belihuloya.
SN Power AS was reestablished as a new company in 2013 after its parent company Statkraft and Norfund decided to make changes to their share portfolios. The company retained its short named 'SN Power AS', however it is no longer abbreviated to 'Statkraft Norfund Power Invest AS'. Through change of control the former company 'Statkraft Norfund Power Invest AS' remained with Statkraft as a holding company.
