EnergyWatch

Statoil anticipates double-digit returns on offshore wind

The oil major plans to invest around NOK 100 billion in renewable energy from now until 2030. The first step will be the launch of the world's largest offshore wind farm.

Photo: Roar Lindefjeld/Woldcam - Statoil PR

Statoil wants to be one of the world's leading companies in renewable energy, CEO Eldar Sætre tells Norwegian newspaper Verdens Gang during an interview conducted in a Dash 8 airplane flying over the North Sea.

Last month, the chief exec expressed similar sentiment, in a feature article about the company's alleged transformation toward becoming a broader energy company. He explained that Statoil planned to "invest around NOK 100 billion [EUR 10 billion, .-ed.] in new renewable energy by 2030".

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