Streetbeat News

NHYKF

Norsk Hydro

Industry

Crude Petroleum and Natural Gas Extraction

Open

6.40

Mkt cap

10B

Volume

High

6.40

P/E Ratio

88.50

52-wk high

6.87

Low

5.31

Div yield

0.04

52-wk low

4.83

Equinor ASA has initiated operations at its 531 MW Mendubim solar plant in Brazil, expected to boost its equity power production by 30% to over 1.4 TWh in 2024. The plant will generate 1.2 TWh annually, with 60% of the power sold under a 20-year USD-denominated PPA with Norsk Hydro ASA's Alunorte. The project, a joint venture with Scatec and Hydro Rein, aligns with Equinor's diversified energy strategy in Brazil. Despite a 20% Y/Y drop in Q4 FY23 revenue and a 49% fall in adjusted earnings due to lower gas prices, EQNR shares rose by 0.72% to $26.05.

Portfolio Pulse from Lekha Gupta

March 08, 2024 | 5:20 pm

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