Norwegian Equinor Will Increase Investments in Renewable Energy, According to New Company President

Written by Roberta Souza

Published on 03/11/2020 at 14:39

Energia renovável Equinor

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According to Anders Opedal, New CEO of Equinor, the Company Will Reduce Investments in Oil and Increase in Renewable Energy

The multinational Equinor announced its ambition to become a company with net-zero emissions by 2050. The company is preparing to gradually reduce global demand for oil and natural gas starting around 2030. To develop Equinor as a company, renewable energies will be a significant area of growth. The company has already set profitable growth targets in the sector and will consequently reduce investments in oil and increase in the renewable sector.

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Anders Opedal, new Chief Executive Officer (CEO) and President of Equinor, said that “Equinor is committed to being a leader in the energy transition. It is a solid business strategy to ensure long-term competitiveness during a period of profound changes in energy systems as society demands net-zero emissions. In the coming months, we will update our strategy to continue creating value for our shareholders and to achieve this goal.”

Equinor envisions a values-based strategy for significant growth in renewable energy and a new target for net carbon intensity. To meet this target, achieving net-zero emissions is essential.

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The company’s CEO asserts that “Equinor has demonstrated its ability to fulfill its climate ambitions for years and has a strong track record in reducing oil and gas emissions. Now, we are ready for even more ambitious climate goals, with the aim of reaching net-zero emissions by 2050.”

Equinor now plans to expand its wind farm acquisition to accelerate profitable growth and will continue to leverage its leadership position in offshore wind energy. Starting in the first quarter of 2021, it will treat the renewable energy sector as an independent business unit.

Norwegian Equinor Will Increase Investments in Renewable Energy, According to New Company President

According to Anders Opedal, New CEO of Equinor, the Company Will Reduce Investments in Oil and Increase in Renewable Energy

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