Opening of SN Power Office in Hanoi

13-10-2010

Representatives from SN Power and the International Finance Corporation (IFC) were present at the opening of SN Power`s office in Hanoi.

Present were representatives from SN Power’s Board of Directors, SN Power’s Executive Management, Norway’s Ambassador to Vietnam, Ståle Risa, IFC’s leaders and staff, as well as relevant Vietnamese Ministries and Agencies in the power sector.

In his Opening Speech at the event, Ambassador Risa explained the solid diplomatic relations between Vietnam and Norway, and emphasized: "The importance of the state-owned SN Power’s local presence in Vietnam signals the interest Norway has in investing in, and contributing to, the development of Vietnam.”

Mr. Erik Knive, EVP SN Power Southeast Asia, praised Vietnam’s recent move towards deregulating the power market. He underlined: “SN Power has followed the Vietnamese power market for several years.  We believe we can strengthen Vietnam’s long-term renewable generating capacity through our power market experience and technology transfer.”

Mr. Simon Andrews, IFC Regional Manager said, “We are excited to extend our working relationship with SN Power to Vietnam. IFC and SN Power have worked together on renewable energy projects across the globe, and we welcome their proven financial capability, technical expertise, and overall commitment to developing Vietnam’s power sector. This partnership will pave the way for a strong portfolio of renewable energy projects that will make critical contributions to sustainable and environmentally sound economic development of the country.”

Together to address Vietnam’s growing demand for power

Earlier this year SN Power and IFC signed a Joint Development Agreement (JDA) to provide sustainable alternatives for meeting the growing demand for electricity in Vietnam through renewable energy generation.
The JDA will enable IFC and SN Power to develop an investment strategy, policy, and guidelines to address Vietnam’s growing demand for power. The partners will acquire operating assets and invest in greenfield projects to build up a portfolio of renewable energy investments in the country. The project will be IFC’s first investment in Vietnam through IFC InfraVentures, and SN Power’s first partnership in Vietnam.
 
SN Power and IFC have collaborated previously on several of SN Power’s global investments in wind and hydropower plants in Chile, India, and the Philippines. SN Power uses IFC’s social and environmental performance standards for conducting due diligence of acquisition and greenfield power projects.

About SN Power

SN Power is the only significant Hydropower development company in the world, operating exclusively in emerging markets. The company is a joint venture between Statkraft and Norfund and has projects and operations in Asia, Latin America and Africa. SN Power is working to develop a portfolio of 4,000 MW of Hydropower plants by 2015, while combating climate change and contributing to sustainable development.
SN Power has over 5000 people employed in twelve countries around the globe. Our headquarter is in Oslo, Norway. For more see: www.snpower.com 

About IFC

A member of the World Bank Group focused on private sector development in emerging markets.

Media contacts

 
Erik Knive
Executive Vice President SN Power Southeast Asia
+65-9642-0762
Erik.knive@snpower.com 

Anne Margrethe Platou
Business Manager Southeast Asia
+65-9230-5411
Anne.margrethe.platou@snpower.com