Equinor withdraws from 1.4GW offshore wind project

Persisting uncertainty on market conditions has the Norwegian oil firm withdrawing from both a floating wind project and the Irish offshore wind market as a whole.

Photo: Equinor

If Irish offshore wind project Moneypoint is realized, it will be without Equinor's participation. Shortly before the expected submission of its application, the Norwegian oil company has chosen to withdraw from the floating wind project, which it's been developing alongside Irish utility ESB for the past two years. The company also withdraws entirely from the Irish offshore wind market, reports the Irish Examiner.

"Following a review by Equinor of its strategy to develop profitable growth in renewables they decided to stop their early phase offshore wind activities in Ireland, in part due to local regulatory uncertainty," ESB writes in a comment to the newspaper.

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