Macquarie, Norsk Hydro complete renewables JV deal
- Admin
- Jun 24, 2024
- 1 min read
UK-based Macquarie Infrastructure and Real Assets Core Ltd has acquired a 49.9% stake in the renewable energy business of Norwegian aluminium supplier Norsk Hydro ASA. The acquisition valued at USD 333 million will see the formation of a joint venture named Hydro Rein. The joint venture will have a gross project portfolio of 8.4 GW with operations in the Nordics and Brazil, excluding certain wind projects close to Hydro's smelters. The funding from the deal will support the growth and development of Hydro Rein's projects.
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