The Norwegian oil and gas company Equinor has signed an agreement to buy the Danish solar power developer BeGreen, which, since its establishment, has developed, sold and delivered over 700 MW of solar capacity. The acquisition aims at strengthening Equinor’s Solar PV capabilities and portfolio.
BeGreen has a project pipeline in early to medium stages of more than 6 GW in Denmark, Sweden and Poland, with an average project size of 300 MW. The future power from the BeGreen portfolio will be commercialised in the energy market by Equinor’s subsidiary Danske Commodities.
Equinor previously announced it aims to invest massively in renewables (US$12bn in net capital expenditures for renewables over the 2021-2026 period) to reach 12-16 GW of renewable capacity by 2030 (from 0.7 GW at the end of 2021).
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