Norsk Hydro Asa (GB:0Q11) has released an update.
Norsk Hydro ASA has finalized the sale of a 49.9% stake in its renewable energy subsidiary, Hydro Rein, to Macquarie Asset Management, valuing Hydro Rein at USD 333 million. This deal marks a significant step in Hydro’s renewable energy expansion and ensures Hydro Rein’s financial readiness for ongoing and future green projects. Together, Hydro and Macquarie have developed over 1.3 GW of capacity and aim to support the decarbonization of industries like automotive through low-carbon aluminum production.
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