Statoil is no longer just about oil and gas from the Norwegian underground. Soon, the giant will also be a solar energy producer, at the same time that it is also shifting into the wind market.
The company has entered an agreement with Scatec Solar, a Norwegian developer of renewable energy projects, to invest in a comprehensive solar plant in Brazil. Statoil is buying into 40 percent of the 162 MW project Apodi in Brazil. However, the project, which will deliver power to 160, 000 households, is not the only Brazilian solar initiative to involve Statoil. The company has also bought a 50 percent share in the project company under Scatec Solar, which will develop further solar projects in Brazil.