Eni: forms joint venture for green energy projects
(CercleFinance.com) - Italian oil group Eni is forming a new joint venture with Norwegian private equity firm HitecVision to start developing new green energy projects in Norway and the Nordic markets, the companies said on Wednesday.
The new joint venture company, called Vargronn, is intended to play a "major role" in the development, construction, operation and financing of renewable energy projects in Norway, they said.
Initially, the venture will pursue opportunities in the offshore wind sector, by participating in the upcoming Norwegian tender processes for offshore licences.
Eni and HitecVision built already formed oil and gas producer Var Energi as part of their long-term partnership.
The new joint venture will be jointly owned by Eni (69.6% stake) and HitecVision (30.4% stake).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The new joint venture company, called Vargronn, is intended to play a "major role" in the development, construction, operation and financing of renewable energy projects in Norway, they said.
Initially, the venture will pursue opportunities in the offshore wind sector, by participating in the upcoming Norwegian tender processes for offshore licences.
Eni and HitecVision built already formed oil and gas producer Var Energi as part of their long-term partnership.
The new joint venture will be jointly owned by Eni (69.6% stake) and HitecVision (30.4% stake).
Copyright (c) 2020 CercleFinance.com. All rights reserved.