Norwegian oil and gas firm Equinor is venturing further into the renewables sector by buying a 9.7% stake in independent power producer Scatec Solar for $82.4m.
“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. This is in line with our strategy to develop into a broad energy company,” says Pål Eitrheim, executive vice president for New Energy Solutions at Equinor.
