Equinor reduces Scatec holdings by half, maintains solar partnerships in Brazil

Equinor ASA has divested an 8.07% share of its holding in Scatec ASA for total consideration of about NOK 1.6 billion (about US$170 million).

Following the sale, Equinor holds an 8.05% share in Scatec, about half of what it accrued in the company through multiple purchases from 2019 through 2023. Equinor first acquired a stake in the renewable energy company in 2018.

Along with the sale, Equinor has entered into a 90-day lock-up agreement for the remaining shareholding.

Equinor said it continues to partner with Scatec in two operating solar assets in Brazil, the 162-Mw Apodi plant in the municipality of Quixere in Ceara state, and the 531-Mw Mendubim plant in Assú, Rio Grande do Norte state. The partnerships are unaffected by the transaction, Equinor said.

Neither Equinor nor Scatec has disclosed the buyer's identity in any official announcement.