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Equinor Halves Scatec Stake as Focus Grows on Oil, Gas Output

Kari Lundgren
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⚡ Quantum Brief
Equinor ASA reduced its stake in renewable energy firm Scatec ASA by half, selling an 8.07% share for $170 million, signaling a strategic pivot toward its core oil and gas operations. The Norwegian energy giant now retains an 8% stake in Scatec, down from its previous 16%, as it prioritizes hydrocarbon production amid shifting market demands. The transaction, announced in April 2026, reflects Equinor’s broader realignment away from renewables to strengthen its position in traditional energy sectors. Scatec, a key player in solar and hydropower development, sees its largest shareholder reduce influence, potentially impacting its growth trajectory in clean energy markets. This move underscores Equinor’s financial and operational focus on maximizing oil and gas output, despite global pressure for energy transition investments.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Equinor ASA halved its stake in renewables developer Scatec ASA in a further realignment toward its core hydrocarbon business.Norway’s biggest oil and gas company sold a 8.07% holding in Scatec for a total consideration of about 1.61 billion kroner ($170 million). The sale leaves Equinor with about an 8% stake, it saidBloomberg Terminal in a statement Tuesday.

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