Press
| Expanded partnership for renewable energy in developing countries |
| Monday, 29 June 2009 18:20 |
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There are no translations available. BKK and TrønderEnergi to acquire ownership stakes in SN Power AfriCA, joining SN Power and Norfund. The goal is to build hydro and other renewable power production in developing countries in Africa and Central America. The owners will invest up to 700 million USD in SN Power AfriCA within 2015. Today, Bergenshalvøens Kommunale Kraftselskap (BKK) has agreed to acquire a 18,5 per cent ownership stake in SN Power AfriCA, while TrønderEnergi will acquire a15 per cent stake. Norfund will reduce its share from 49 to 15,5 per cent. The remaining shares (51 per cent) are owned by SN Power. BKK and TrønderEnergi are Norwegian regional energy utility companies based in the Bergen and Trondheim areas, respectively. - “We believe that there are considerable opportunities in the new areas we are expanding into. BKK shall be an active owner, and we wish to contribute with our own personnel in projects for SNP AfriCA”, says Ms. Wenche Teigland, Executive Vice President of Energy in BKK. - “We are very pleased that TrønderEnergi, as a large and solid regional energy company, now can join forces with other strong and competent energy companies from Norway and contribute to the construction of hydro power in developing countries. This will allow us to spread the risk, while increasing our own skills in cooperation with a professional and experienced hydro power environment”, says Mr. Rune Malmo, CEO in TrønderEnergi. - “The broader ownership base in SN Power AfriCA will broaden the industrial and financial basis and both BKK and TrønderEnergi has experience with renewable energy projects outside Europe. The competence and experience of these companies will be combined with the success of SN Powers in developing renewable energy projects in emerging market”, says Mr. Einar Stenstadvold, CEO in SN Power AfriCA. - “I am very pleased that regional Norwegian power utilities will contribute with their expertise and capital to an important and successful endeavour in the coming year. Together we have created a unique and strong industrial cluster. New renewable energy will contribute to poverty reduction and economic growth in Africa and Central-America, while helping to preserve the global climate. The parent company SN Power has already demonstrated how profitable such investments can be”, says Mr. Kjell Roland, Managing Director at Norfund. Background In January 2009 Norfund and Statkraft restructured their ownership in SN Power, their joint venture for renewable energy in developing countries. Statkraft increased its share from 50 to 60 per cent, and both owners established a new subsidiary company—SN Power AfriCA—targeting Sub-Sahara Africa and Central America. This subsidiary company builds on the know-how and experiene of SN Power gained in existing markets in Asia and South America. Press contacts BKK: MS. Wenche Teigland, Executive Vice President of Energy, cell +47 480 96 723 TrønderEnergi: Mr. Ole Jørgen Frostad, Head of Communications, cell +47 913 99 657 Norfund: Mr. Allon Groth, Head of Communications, cell +47 408 25 868; Mr. Mark Davis, Head of Departement, Renewable Energy, cell +47 901 47 034 SN Power AfriCA: Mr. Knut Fjerdingstad, Communications Director, cell +47 901 86 310. CEO Einar Stenstadvold, cell +47 958 30 620. Statkraft: Mr. Ragnvald Nærø, Executive Vice President for Communications, cell +47 900 80 303. |