SN Power AS has taken over the 20% shareholding in the 500 MW Theun Hinboun Hydropower Company (THPC) in Laos from Statkraft. SN Power is aiming to be a long time investor in Laos.
The Theun Hinboun- project, situated 200 km east of Vientiane on the Nam Theun river, has been running for more than 15 years. The project was developed in two phases. Production from the first 210 MW project started in 1998. The project was expanded with an additional 290 MW hydropower plant that went into operations in 2012.
THPC was the first privately developed hydropower project in Laos and has served as a model for how Laos can utilize its hydropower potential in a sustainable way. Laos have the ambition to be the “battery of the East” and use the proceeds from hydropower sales to pull the country out of the least developed nation category by 2020. THPC has won several international awards for its development, not least for its financing and is frequently used as a model for social and environmental work in sustainable hydropower development.
SN Power will take over the role Statkraft has had in the project and will continue to hold a minority share. The other owners are EdL Generation Public Company in Laos 60% and GMS Power Public Company Limited in Thailand 20%.
“SN Power will continue the work Statkraft has been doing in Laos for the past 20 years. We will use our extensive experience from other developing markets and continue investing in the country. We hope to find new projects that we can develop in the near term”, says Torger Lien CEO of SN Power AS.
The SN Power Group invests in clean, renewable energy on commercial basis in emerging markets. The Group focuses on acquiring, developing, constructing and operating hydropower assets. It has operations in South-east Asia, Central America and Africa. The Group is a joint venture between Statkraft and Norfund. The SN Power Group has a multinational team of people employed globally in its operations and projects and is Headquartered in Oslo, Norway.