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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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

July 3, 2025
Renewable energy curtailment in Brazil is set to reach 8% across the country, and be as high as 11% in the north-east, by 2035.
July 3, 2025
Malaysian engineering and infrastructure giant Gamuda has expanded its presence in the Australian renewables sector by partnering with Tasmanian landowners to build a 1.2GW portfolio, which includes solar PV.
Premium
July 2, 2025
ANALYSIS: China's leading PV manufacturers are locked in a new round of competition, aiming to outpace each other through record-breaking feats.
July 2, 2025
Indigenous-led renewable energy company Yindjibarndi Energy Corporation (YEC) has submitted plans for a hybrid wind and solar PV renewable energy project to the Australian government’s Environment Protection and Biodiversity Conservation (EPBC) Act.
July 2, 2025
Robotics company Luminous has received AU$4.9 million (US$3.2 million) via Australia’s Solar ScaleUp Challenge to support deploying its ‘LUMI’ technology at utility-scale solar PV power plants.
July 1, 2025
French private equity firm Ardian Clean Energy Evergreen Fund (ACEEF) has bought 117 solar PV plants, worth 116MW of total capacity in several locations in Italy.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK