Norway's Equinor, formerly Statoil, signed an agreement with Portugal's Martifer Renewables to acquire a 50 percent interest in the Guanizul 2A (G2A) solar asset in Argentina, the company announced Tuesday.
Equinor said that the project had a potential to provide around 80,000 Argentine households with renewable energy.
"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," said Irene Rummelhoff, executive vice president of New Energy Solutions at the company.
Norwegian independent solar power producer Scatec Solar is acquiring the other 50 percent of the G2A asset --a 117 megawatts ready-to-build solar project located in the San Juan region of Argentina.
The country is the third largest power market in Latin America with an ambition to receive 20 percent of its electricity from renewable sources by 2025.
By Murat Temizer