Scatec Solar Makes $1.1B Acquisition to Become Global Renewable IPP

By [email protected] Norwegian PV developer Scatec Solar has acquired hydro developer SN Power and detailed its plans for expansion in new geographies and new technologies.

Scatec is also dropping the “Solar” from its name after agreeing to acquire SN Power for $1.1 billion from NorFund, a private equity firm owned by the Norwegian government. The deal is expected to close in Q2 2021.

Scatec has 3.3 gigawatts of operational capacity and a target to reach 4.5 GW by the end of 2021. The SN Power acquisition means the combined companies will have a pipeline of 9.5 GW of renewable projects. That compares favorably with

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