Tuesday, May 30 2023 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of May 22
Week of May 15
Week of May 08
Week of May 01
Week of Apr 24
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Equinor hikes stake in renewables firm Scatec


    March 16, 2023 - SeeNews Renewables

     

      March 16 (Renewables Now) - Norwegian energy group Equinor ASA (NYSE:EQNR) has spent NOK 305 million (USD 28.3m/EUR 26.8m) to raise to 16.2% its stake in Scatec ASA (OSL:SSO), a domestic renewables developer and operator it has been partnering with for years.

      The transaction concerned the purchase of five million additional shares, or a shareholding of 3.1%, for NOK 61 apiece, from Scatec Innovation AS, a press release said on Thursday.

      Shares in Scatec closed at NOK 64.18 on March 15. They were trading 3.94% higher at NOK 65.9 as of 0937 CET on Thursday, implying a market capitalisation of about NOK 10.5 billion, according to data from Nasdaq Nordic.

      “The acquisition aligns well with our disciplined approach to growth within renewables,” said Pal Eitrheim, executive vice president for renewables at Equinor.

      Equinor, formerly Statoil, first bet on Scatec in 2018. The two companies have been partnering since 2017 when Equinor entered its first solar development project via the Apodi asset in Brazil. They teamed up the next year for the Guanizul 2A solar plant in Argentina. The two are also partners in the 531-MW Mendubim solar development project in Brazil.

      (NOK 10 = USD 0.930/EUR 0.882)

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.