Hydro development company SN Power has agreed to acquire Statkraft's 20% stake in the Theun Hinboun Power Company (THPC) in Laos.
THPC entered into operations in 1998 with its power project which had installed capacity of 220MW and an annual average production of 1,5 TWh. During the last few years, an expansion of the plant has been undertaken, resulting in an upgrade in 2010 to a total of 500MW.
The acquisition of 20% in THPC represents the first investment of SN Power in Laos and is an important development in Asia where it already has assets in operation in India, Philippines, Sri Lanka and Nepal, and a business development office in Vietnam.
"The acquisition of 20% of the THPC plant is a significant event for SN Power," commented CEO Torger Lien. "With our presence in Laos and potential investment opportunities in Vietnam, we are well positioned in the Greater Mekong sub-region. The vast hydropower potential and strong growth in energy demand in the region may provide interesting commercial opportunities in the years to come."
The company - which is a joint venture between Statkraft and Norfund - recently announced its intention to focus on hydropower development following its agreement to sell 100% of its shares in Norvind SA, which operate the Totoral Wind Farm in Chile.
