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Equinor ASA Acquired 11,020,000 Shares of Scatec Solar ASA, Representing 9.7% of Shares and Votes, at a Total Purchase Price of Approximately 700 Million Norwegian Krone (US $ 82.4 Million).
The Investment in Scatec Solar Will Increase Equinor’s Exposure to a Rapidly Growing Renewable Energy Sector, Further Complementing Equinor’s Portfolio with Profitable Solar Power. This Is in Line with Its Strategy of Developing into a Broad Energy Company, Says Pål Eitrheim, Executive Vice President of New Energy Solutions at Equinor.
“Scatec Solar Is Our Existing Partner in Brazil and Argentina, and We Value Their Capabilities and Experience. They Are a Competitive and Respected Solar Energy Company, and We Support the Management, Board, and Strategy of Scatec Solar. This Minority Stake of About 10% Is Done with a Long-Term Perspective,” Says Eitrheim.
Equinor Will Signal a Stake of Just Over 10% in Scatec Solar. This Includes Shares Owned by Equinor ASA, as Well as Shares Managed by Equinor Asset Management ASA.
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Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
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Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
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Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
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Hungarian mothers began confronting electric car battery factories over fears of contaminated water and industrial waste, saying the green industry was poisoning the neighborhood.
The Global Solar Energy Business Grew Approximately 40% Per Year over the Last Decade and Is Expected to Continue Growing Rapidly. Solar Energy Has Also Made the Fastest Cost Improvements in the Renewable Energy Sector and Is Expected to Be a Significant and Material Source of Renewable Energy in the Future.
In Partnership with Scatec Solar, Equinor Entered Its First Solar Development Project in 2017 through the Apodi Asset in Brazil, Followed by a Second Joint Project in June 2018 with Guanizul 2A in Argentina. Equinor Has Also Developed an Important Offshore Wind Power Portfolio and Is the Operator of Sheringham Shoal (317 MW), Dudgeon (402 MW), and Hywind Scotland (30MW). In Addition, Equinor Is a Partner in the Arkona Wind Farm (Operated by E.on, 378 MW) and Has Several Other Wind Projects Underway.
Scatec Solar, An Integrated and Independent Solar Power Producer, Generates Electricity from Operating Plants with an Installed Capacity of 357 MW and Has an Additional 1,057 MW Under Construction. The Company Has a Project Backlog and a Pipeline of About 4.3 GW in Development Across the Americas, Africa, Asia, and the Middle East. Scatec Solar Is Headquartered in Oslo, Norway.
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