Equinor is setting its sights on sunshine

Gansu Dunhuang Solar ParkDunhuang,China.Gansu Dunhuang Solar Park.Photo: Heiko Junge / NTB scanpix

Oil and gas giant, Equinor has bought shares in the solar company Scatec Solar for around NOK 700 million.


Over 11.0000 shares represent 9.7 percent of the shares in the company, writes Equinor in a press release.

In total, Equinor, formerly Statoil, has a stake of just over 10 percent in Scatec Solar.

“The investment in Scatec Solar will strengthen our position in a fast-growing renewable sector and complement Equinor’s portfolio of profitable solar energy. This is in line with our strategy of developing as a broad energy company,” says Pål Eitrem, Executive Vice President of New Energy Solutions at Equinor.

© NTB scanpix / #Norway Today