Equinor seeks offshore wind major status for the right price

Equinor wants to install 12-16 GW in renewable capacity up to 2035, but projects will only be built if returns are sufficient, says Equinor's EVP of New Energy Solutions. The right rate of return is between 6 and 10 percent, the executive says confidently of Equinor's ability to achieve as much.

Pål Eitrheim from Equinor's New Energy Solutions at the company's capital markers day event in London. Photo: Ole Jørgen Bratland / Equinor


Equinor aims to be much more than just an oil and gas company and not only dip its toes into offshore wind but rather take veritable dive head first, says Equinor Executive Vice President of New Energy Solutions Pål Eitrheim following his stage appearance at the company's capital markets day, where he presented a plan entailing 4-6 GW of commissioned renewable capacity in 2026 and 12-16 GW by 2035.

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