Statoil makes first steps into solar sector with Brazilian joint venture

05/10/2017 15:16 Solar


Norway's oil company Statoil decided to make the first steps into the solar sector on Wednesday, associating in a joint venture with Oslo’s renewable energy firm Scatec Solar, targeting the construction of a few large solar plants in Brazil.


Presently, European oil companies are redirecting their sights to renewable energy sector as oil gains are being considerably reduced during the last period. 

The renewable energy portfolio of Statoil has been enlarged with a 40-percent share in Scatec's construction-ready 162-megawatt Apodi farm and a 50-percent share in the project execution company.

Up till recently, the oil company has had in its possession chiefly offshore wind projects.

According to Statoil, the Apodi solar farm represents the company’s first step into solar field, boosting the firm’s growth in a long-term run.  

The Norway’s oil company is not new in Brazil as it has already a participation in the Peregrino oilfield and holds a license to develop discoveries Caracara and Pao de Acucar offshore Brazil. 

Scatec Solar CEO Raymond Carlsen announced in September the company was in negotiations to build its first solar power plants in Iran, partnering with several foreign energy companies looking to invest in the country.

Daily (04.12.2019): Carbon price plummets to a two-week low on Tuesday amid a weak energy complex

04/12/2019 10:47:00

Crude oil prices ended on a mixed note on Tuesday, with Brent hitting its lowest level since Oct.21, while WTI prices increased for a second consecutive session. Brent decreased by 10 cents, or 0.2% to end at $60.82 a barrel, following comments from the U.S. President Trump that a trade deal with China might be delayed, feeding uncertainty over demand. WTI rose by 14 cents, or 0.3%, to close at $56.10 a barrel, extending the 1.4% gain registered on Monday.


Albania, Kosovo agree to set up common energy market

04/12/2019 09:05:00

Kosovo’s power transmission system operator KOSTT said it has signed an agreement with its Albanian peer OST to set up a common energy market of the two neighboring countries.


Edison to build 760MW gas-fired thermoelectric power plant in Italy

04/12/2019 09:00:00

Italy’s Edison is planning to build 760MW natural gas-powered thermoelectric power plant in Presenzano in the province of Caserta, with an investment of €370m ($408m).