Statoil takes first step into solar sector with Brazilian JV
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Oslo
NORWAY'S Statoil is taking its first step into the solar sector on Wednesday, partnering up with Oslo-listed renewable energy firm Scatec Solar in a joint venture aiming to build several large-scale solar plants in Brazil.
Bruised by pressure on oil prices over the last two years, European oil companies have been intensifying their expansion into renewable energy to seek new sources of revenue.
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