Norsk Hydro: Hydro and Macquarie formally begin renewable energy partnership [Yahoo! Finance]
TELENOR ASA S/ADR (TELNY)
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Source: Yahoo! Finance
The financial closing of the transaction that was announced in October 2023, is an important accomplishment for the execution of Hydro's strategy to grow in renewable energy. “We are excited to conclude the transaction, marking the next chapter in our renewable energy partnership with Macquarie Asset Management. Hydro Rein is well equipped to execute on its ambitious growth agenda, with a strong project pipeline going forward. Industrial decarbonization begins with renewable energy and Hydro Rein will be instrumental in supporting Hydro as well as other industries with the energy we need to reduce our CO2 emissions,” says Hydro's President and CEO, Eivind Kallevik. The transaction values Hydro Rein at USD 333 million, per June 30, 2023, subject to closing adjustments. Macquarie contributes USD 214 million of this amount at closing. The funds will be transferred by June 25, 2024. The remaining part of the committed capital will be contributed over time as the need arises. The im
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