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Statoil Completes Solar Transaction

Source: www.gulfoilandgas.com 10/24/2017, Location: Europe

Statoil and Scatec Solar have completed their previously announced transaction, whereby Statoil acquires a 40% share in the construction ready 162MW Apodi solar asset in Brazil from Scatec Solar. In addition to the acquisition of a 40% share from Scatec Solar, Statoil also acquirers 3,75% from Apodipar, bringing Statoilís total share in the solar project to 43,75%.

Following the transaction Scatec Solar and Statoil both hold a 43,75% share in the Apodi solar asset, and ApodiPar holds the remaining 12,5%. Statoil has paid a combined acquisition price of approximately USD 25 million for access to the Apodi solar asset and the project execution company.

The Apodi solar project will provide approximately 160,000 households with electricity.

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