Scatec Solar taps Statoil for partial funding of 162MW project in Brazil

Facebook
Twitter
LinkedIn
Reddit
Email
Scatec Solar said that a Joint Venture (JV) with Statoil had been created, which includes Statoil securing a 40% equity position in Scatec Solar's planned 162MW Apodi project in Brazil. Image: Scatec Solar

Independent solar power producer Scatec Solar ASA has teamed with Norway’s multinational oil and gas company, Statoil ASA to support the funding of a 162MW solar power plant project in Brazil.

Late last year, Scatec Solar purchased four projects totalling 150MW in Brazil, which was expected to require around a US$212 million investment to build the plants.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Scatec Solar said that a Joint Venture (JV) with Statoil had been created, which includes Statoil securing a 40% equity position in Scatec Solar's planned 162MW Apodi project in Brazil. The JV was said to be responsible for construction, operation and maintenance of the plant, which would cost around US$215 million with construction started imminently and completed and grid connected by the end of 2018.

“Brazil is a core area for Statoil where our ambition is to deliver safe and sustainable growth in an attractive energy market. We are excited to have entered our first solar project with an experienced partner like Scatec Solar”, noted Irene Rummelhoff, Executive Vice President of New Energy Solutions in Statoil.

Read Next

September 18, 2025
Indian PV makers have welcomed the government’s plan to add solar wafers to its ALMM List-III from June 2028.
September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
Chinese module producer DAS Solar is planning a 5GW manufacturing facility focused on producing high-efficiency back contact cells.
September 17, 2025
QatarEnergy has signed an EPC agreement with Samsung C&T for its 2GW Dukhan project. 
Premium
September 17, 2025
PV CellTech: Martin Pochtaruk, CEO of North American solar module manufacturer Heliene, says US producers must learn to survive without tax incentives.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA