Equinor raises Scatec stake to 16.2%
OSLO, March 16 (Reuters) -Norway's Equinor EQNR.OL said on Thursday it had raised its stake in Scatec SCATC.OL, a solar energy and hydropower company, to 16.2% from 13.1%.
"The acquisition aligns well with our disciplined approach to growth within renewables," Equinor's head of renewable energy, Paal Eitrheim, said in a statement.
Partnering with Scatec, oil and gas producer Equinor entered its first solar energy project in 2017 in Brazil, followed by a second joint project in Argentina in 2018.
The two companies are also partners together with Norsk Hydro's Rein renewables unit in another solar development in Brazil.
Reporting by Terje Solsvik
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