Equinor Plans to Cut Back on Renewables, Adjusts 2024 Capex Outlook [Yahoo! Finance]
Equinor ASA (EQNR)
Last equinor asa earnings: 2/6 12:43 am
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Source: Yahoo! Finance
The announcement followed shortly after EQNR acquired a 9.8% stake in Ørsted, a Danish wind energy group. In October, the company had announced its decision to acquire a stake in Ørsted for $2.5 billion. Equinor also noted that it plans to increase the acquired stake to 10%. The deal is contingent upon regulatory approval. The company stated that the acquisition would add to its renewable portfolio, allowing it to move one step closer to achieving its target of installing a renewable capacity of 12-16 GW by 2030. Notably, the acquisition would add a net generation capacity of 1.7 gigawatts (GW), contributing toward its 2030 target. Equinor mentioned that the deal offers a cost-effective opportunity for the company to participate in offshore wind projects without having to develop them. This presents a major upside, per Equinor, as it is a more profitable way for the company to reach its renewables target. Further, this approach should enable EQNR to spend less on capital while rea
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EQNR
News
- SLO Chamber of Commerce: Offshore wind helps preserve our future | Opinion [Yahoo! Finance]Yahoo! Finance
- US offshore wind execs fret privately over possible Trump election win [Yahoo! Finance]Yahoo! Finance
- Brookfield Buys $2.3 Billion Stake in Orsted UK Wind Farms [Yahoo! Finance]Yahoo! Finance
- Alphabet shares rise before earnings and Japan shares jump after ruling party election setback [Yahoo! Finance]Yahoo! Finance
- Alphabet shares rise before earnings and Japan shares jump after ruling party election setback [Fortune]Fortune
EQNR
Earnings
- 10/24/24 - Beat
EQNR
Sec Filings
- 10/29/24 - Form 6-K
- 10/25/24 - Form 6-K
- 10/24/24 - Form 6-K
- EQNR's page on the SEC website