Equinor takes Scatec stake in solar energy push.


Equinor takes Scatec stake in solar energy push
Innkommet 15.11.2018 08:25

OSLO, Nov 15 (Reuters) - Norway's Equinor has
bought a 9.7 percent stake in renewable energy producer Scatec
Solar , raising its ownership to 10 percent, the
state-controlled energy firm said on Thursday.
"The investment in Scatec Solar will increase Equinor’s
exposure to a fast growing renewable sector, further
complementing Equinor's portfolio with profitable solar energy,"
Equinor said in a statement.
"This is in line with our strategy to develop into a broad
energy company," it said.
It paid 700 million Norwegian crowns ($82.55 million) for
the stake, corresponding to about 63.5 crowns per share, a
premium of 4.8 percent over Wednesday's closing price on the
Oslo stock market.
In partnership with Scatec, Equinor entered its first solar
development project in 2017 in Brazil, followed by a second
joint project in Argentina in June 2018.
Equinor has also invested heavily in offshore wind turbine
projects.
($1 = 8.4799 Norwegian crowns)

(Reporting by Terje Solsvik; editing by Jason Neely)
((terje.solsvik@thomsonreuters.com; +47 918 666 70; Reuters
Messaging: terje.solsvik.thomsonreuters.com@reuters.net))

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