News & Insights

Cases & Deals

October 16, 2020

Scatec Solar acquires SN Power, building a global leader in renewable energy

King & Spalding advised Scatec Solar ASA, a leading publicly-listed solar power producer with its headquarters in Oslo Norway, during the negotiation and signing of an agreement to acquire 100% of the shares in SN Power AS, a leading hydropower developer and independent power producer, for a total equity value of $ 1.166 Billion, from Norfund. Scatec Solar will fund the acquisition through a combination of cash available from its balance sheet, a $ 200 Million vendor note, a $ 150 Million term loan and a $ 700 Million acquisition financing made available by a club of Nordic banks and BNP Paribas.  The transaction will transform Scatec Solar into a global leader in renewable energy.