SN Power AS is founded

2014 marks a new chapter in the history of SN Power.

During 2013 steps were taken to streamline SN Power’s strategy and operations. In June 2013, Statkraft and Norfund agreed to restructure and prolong their cooperation until 2023, that lead to a restructuring of the business and the new company SN Power AS was established in June 2014.

The company’s former interests in South Asia and South America were integrated within Statkraft International Hydro’s portfolio, allowing the streamlined SN Power to focus om South-East Asia, Africa and Central America.
All projects situated in Africa and Central America were then consolidated under the subsidiary Agua Imara.

In September SN Power announces that the company has taken over the 20% shareholding in the 500 MW Theun Hinboun Hydropower Company (THPC).

In November SN Power announces that its operations in Vietnam would be discontinued. SN Power has been in Vietnam for 4 years and have learned a lot about the country and the market. SN Power will continue to monitor the development of the energy market and might re-enter at a later stage should the commercial conditions change.

In November 2014 a tragic accident occurs at the Bajo Frio Hydroelectric Project in Panama. A 33-year-old man lost his life and another man was seriously injured. The deceased was employed by a supplier to the project.