Equinor Increases Its Ownership in Scatec Solar

Source: www.gulfoilandgas.com 12/19/2019, Location: Europe

Equinor has acquired 6,500,000 shares in Scatec Solar, corresponding to 5.2 percent of the shares and votes, at a total purchase price of NOK 754 million.

The purchase price per share is NOK 116 which compares to the closing price on 19 December of NOK 110.5 and to Scatec Solar’s equity issuance price on 24 September of NOK 116.

Following the transaction Equinor owns a total of 18,965,400 shares of Scatec Solar, raising its total shareholding to 15.2 percent of the shares and votes.

“Through this acquisition of additional shares in Scatec, Equinor further strengthens its exposure to the fast-growing solar energy sector. Since acquiring a 10% interest a year ago, we have continued to work effectively with Scatec’s management and now we are capitalising on an opportunity to acquire an additional stake in this high performing company,” says Pal Eitrheim, executive vice president for New Energy Solutions in Equinor.


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