Equinor, Scatec to combine for 480MW solar array in Brazil

• Norwegian energy companies Equinor as well as Scatec are to work together on a 480MW solar project in Brazil.

The duo have actually signed a Memorandum of Understanding (MoU) with compatriot power and also aluminium carrier Hydro to create the project, with Hydro set to become an offtaker for some of the solar ranch's production.

The MoU will certainly see Scatec and Equinor contribute to an expanding portfolio of onshore renewables projects owned by the companies in Brazil, including a 162MW solar project completed in 2018.

A site has already been secured in Rio Grande do Norte, and also the events expect to reach a final financial investment choice on the project following year, based on last arrangements being gotten to.

All three parties are expected to become joint proprietors of the project need to it pertain to fruition.

The MoU is the current in a prolonged background in between Equinor and also Scatec, the previous owning a 15.2% risk in the latter after boosting its holding late last year.

Terje Pilskog, EVP for project advancement and project money at Scatec, recognized the "shared rate of interests" of both firms in working together on the project, mentioning the combined experience of Scatec as well as Equinor would aid provide tidy and also cost-effective power in Brazil for Hydro.

"We have actually claimed we will develop profitable onshore renewable assets in choose markets, and this MoU represents an excellent possibility to even more discover onshore opportunities in Brazil," Olav Kolbeinstveit, vice president for power and also markets in new energy services at Equinor, included.

The MoU comes a few months after Scatec agreed a US$ 1.1 billion bargain to acquire hydropower designer SN Power, dropping the 'Solar' from its name in the process.