Energy giant Equinor said today that it had bought 50% of a planned Argentine solar farm capable of powering 80,000 homes. Independent solar power producer Scatec Solar, also from Norway, is acquiring the other 50% of Guanizul 2A (G2A) from Martifer Renewables. G2A is a 117 MW ready-to-build solar project located in the San Juan region of Argentina. A final investment decision is expected later in 2018, with an estimated production start-up late 2019. Project capex is estimated at $95 million, and will be funded with 40% equity from Equinor and Scatec Solar, and 60% from a construction bridge loan provided for the consortium by Equinor. Equinor’s overall financial exposure will be $77m. Irene Rummelhoff, executive vice president of new energy solutions at Equinor, said: “We are very pleased to have acquired a stake in this opportunity. We are entering a renewable market with growth potential through a mature and advanced solar project. “Following a dramatic reduction in cost for solar, we are looking forward to work with our partner, the Argentinean authorities and the local supply chain to advance solar as a competitive source of energy.”
Norway - based Equinor , formerly Statoil , has announced the acquisition of a 50 % stake in the Guanizul 2A 117 MW ready - to - run solar project in western Argentina . Fellow Norwegian group solar Solar will buy the remaining 50 % from Martifer ##or . The $ 95 m project will be 40%-funded with capital from the two new owners and 60 % with a generous investment loan from Equinor . A final investment round is expected later this year with estimated start - up in late 2019 .