Equinor sells 8% stake in Scatec for $150 million, reduces shareholding

(WO) — Equinor has reduced its shareholding in renewable energy company Scatec, selling an 8.07% stake for approximately NOK 1.6 billion ($150 million) as part of ongoing portfolio management.

Following the transaction, Equinor retains an 8.05% interest in Scatec and has entered into a 90-day lock-up agreement for its remaining shares.

Equinor first invested in Scatec in 2018 and increased its position to more than 16% through additional purchases between 2019 and 2023. The company said its average entry price was around NOK 80 per share, including dividends received.

The divestment does not affect Equinor’s existing partnerships with Scatec in Brazil, where the companies jointly operate the Apodi and Mendubim solar assets.

The move reflects continued portfolio optimization by Equinor as it balances investments across oil and gas and lower-carbon energy businesses. The company remains active across both conventional upstream developments and energy transition projects as it adjusts its capital allocation strategy.