Norwegian state-held energy company Equinor (formerly known as Statoil) has acquired a 9.7% stake in the Norwegian independent solar power producer Scatec Solar for a total consideration of NKR700m (€73m). This acquisition, which raises Equinor's stake in Scatec Solar to 10%, is in line with the group's strategy, which plans to increase its exposure to the growing renewable segment both in Norway and overseas.
The two companies are working together on several projects in Latin America. Equinor entered its first solar power development project in Brazil, when it acquired a 40% equity in the 162 MW Apodi solar photovoltaic (PV) project in Quixeré (Ceará State, Brazil) from Scatec Solar. In June 2018, they agreed to jointly develop the 117 MW Guanizul 2A solar project in Argentina.
Scatec Solar operates solar power plants with a total installed capacity of 357 MW and has a further 1,057 MW under construction, as well as a project pipeline of about 4.3 GW under development in the Americas, Africa, Asia and the Middle East.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.