December 20, 2019 / 5:55 AM / a month ago

Oil firm Equinor ups stake in solar power firm Scatec

FILE PHOTO: Equinor's logo is seen at the company's headquarters in Stavanger, Norway December 5, 2019. REUTERS/Ints Kalnins/File Photo

OSLO (Reuters) - Norway’s Equinor has bought a further 5.2% of the shares of solar energy developer Scatec Solar, the oil firm said in a statement late on Thursday, lifting its stake to 15.2%.

Equinor, which has committed to increasing its investments in renewable energy, paid 754 million Norwegian crowns ($84.06 million) for the 5.2% stake. The price of 116 crowns per share constituted a 4.8% premium over Thursday’s close.

Reporting by Terje Solsvik; Editing by Muralikumar Anantharaman

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