STECF - Equinor Norsk Hydro Scatec ink MoU for big Brazil solar project

Equinor ([[EQNR]] +1.4%), aluminum producer Norsk Hydro (NHYDY) and renewables company Scatec (STECF) announce plans to develop a 480 MW solar farm in Brazil.The farm, to be located in Brazil's Rio Grande do Norte state, will be jointly owned and developed by the three companies, with part of the power production being used by Hydro.Scatec and Equinor currently are collaborating on a number of solar projects in Brazil, with a 162 MW plant already in operation.Hydro has major installations in Brazil, including an alumina refinery and an aluminum factory, that require significant amounts of energy.Equinor, Norsk Hydro and Panasonic recently unveiled plans to jointly explore the potential formation of a European lithium-ion battery production business.

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Equinor, Norsk Hydro, Scatec ink MoU for big Brazil solar project