Norwegian development finance institution Norfund announced on 16 October that it had sold its stake in hydropower company SN Power to Norway’s Scatec Solar in a deal worth $1.17bn. The combined company will own operating power plants in 14 countries with combined capacity of 3.3GW. It expects to generate 4.1TWh in 2021. SN Power has been wholly owned by Norfund since 2017, having been founded by Norfund and Statkraft in 2002.
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