SN Power: Best ESG Renewable Energy Operations Emerging Markets 2016

Worldwide, around 1.2 billion people are yet to be plugged into a dependable supply of electric power. Curiously, the countries hampered in their development by persistent energy deficits are often the same ones that boast a large potential for hydropower – as of yet largely untapped.

Norway’s SN Power, a company specialised in providing cost-competitive renewable energy solutions, aims to help emerging markets power their development in a carbon-neutral fashion. State-owned SN Power was founded in 2002 and has since built up a strong portfolio of hydropower assets, accumulating a vast reservoir of knowledge in the process.

In Uganda, the company has signed a contract to acquired a stake in the Bujagali Project, a 250MW hydropower facility, in order to establish a presence in Sub-Saharan Africa from which to expand its operations in the region. Commissioned in 2012, Bujagali is recognised as a model public-private partnership that provides a blueprint for similar undertakings elsewhere in the region. The dam’s cheap energy allows the Ugandan government to save over $170m annually in subsidies and is considered a prime driver of economic development.

Key projects supported or initiated by SN Power have the ability to push economic growth in markets held back by power shortages. By providing clean renewable energy, SN Power believes it can help attain sustainable and inclusive development without a commensurate increase in the environmental footprint. The CFI.co judging panel is pleased to offer SN Power the 2016 Best ESG Renewable Energy Operations Emerging Markets Award.