Equinor purchases Polish renewables designer with 1.6-GW solar pipeline

• Norwegian power team Equinor ASA (NYSE: EQNR) has actually taken over Polish onshore renewables developer Wento, which has an overall web pipe of around 1.6 GW of solar projects in various stages of advancement.

Equinor has actually acquired this company from exclusive equity firm Enterprise Investors for an enterprise worth of EUR 91 million (USD 109.4 m), prior to popular internet cash money changes. The purchase contract was joined May 5 and the transaction was shut quickly after.

The business's exec vice president for New Energy Solutions, Pal Eitrheim, claimed that the procurement gives Equinor "an onshore development platform in a transition market established for substantial renewables growth."

To date, Wento has actually created and monetised wind and solar parks of 85 MW and also 177 MW, respectively.

In Poland, Equinor joins the development of the MFW Baltyk I, MFW Baltyk II and also MFW Baltyk III offshore wind projects, having 50% passions in each of them. Polish peer Polenergia SA (WSE: PEP) is its companion.