EQNR Equinor ASA

By Dominic Chopping

Equinor ASA said Thursday it has increased its ownership in Norwegian renewable energy producer Scatec ASA, buying a further 3.1% stake for 305 million Norwegian kroner ($28.3 million).

Equinor said it has acquired 5 million shares from Scatec Innovation AS at NOK61 each, bringing its total holding to 25.8 million shares or 16.2%.

"As the largest shareholder in the company, we have acted on this opportunity to acquire an additional 3.1% stake in Scatec, a leading renewable energy company in emerging economies," said Pal Eitrheim, executive vice president for renewables at Equinor.

"The acquisition aligns well with our disciplined approach to growth within renewables."

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 16, 2023 05:02 ET (09:02 GMT)

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