M&A Deal Summary

Equinor Acquires East Point Energy

On July 12, 2022, Equinor acquired renewable energy company East Point Energy

Acquisition Highlights
  • This is Equinor’s 1st transaction in the Renewable Energy sector.
  • This is Equinor’s 3rd transaction in the United States.
  • This is Equinor’s 1st transaction in Virginia.

M&A Deal Summary
Date 2022-07-12
Target East Point Energy
Sector Renewable Energy
Buyer(s) Equinor
Deal Type Add-on Acquisition

Target

East Point Energy

Charlottesville, Virginia, United States
East Point Energy develops standalone, grid-scale energy storage projects that enable a more renewable, resilient, and affordable electric grid. East Point is currently developing gigawatts of energy storage projects throughout the country and has transacted on several hundred megawatts with some of the largest, most sophisticated energy investors in the country. East Point Energy was formed in 2018 and is based in Charlottesville, Virginia.

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Buyer(S) 1

Buyer

Equinor

Stavanger, Norway
Category Company
Founded 1972
Sector Oil/Gas Exploration
Employees23,449
Revenue 106.8B USD (2023)
DESCRIPTION
Statoil office in Houston, Texas.
Statoil office in Houston, Texas.

Equinor is an integrated oil and gas company with operations worldwide. Equinor was founded in 1972 and is based in Stavanger, Norway.

DEAL STATS #
Overall 4 of 5
Sector (Renewable Energy) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (Virginia) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-04 Lundin Energy

Stockholm, Sweden

Lundin Energy is an oil exploration and production with assets in Norway, South East Asia, France, the Netherlands and Russia. Lundin Energy was formed in 2001 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 Equinor Energy Ireland

Ireland

Equinor Energy Ireland is an integrated oil and gas company with operations worldwide.

Sell $434M
Mergr

Product

Company

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