Equinor CEO Anders Opedal
Letter from London: Equinor’s renewable reality check
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
Norwegian energy firm Equinor has halved its planned investment in renewables and low-carbon solutions to 2027, as it looks to boost free cash flow. The move comes as the pace of the transition slows in “most markets”, CEO Anders Opedal told investors in London in early February. “Interest rates, supply chain issues and regulatory uncertainty are reducing the pace of the energy transition. Segments like offshore wind and hydrogen are impacted,” he said. “Interest rates, supply chain issues and regulatory uncertainty are reducing the pace of the energy transition” Opedal, Equinor Equinor’s partial pivot away from renewables and low carbon, and emphasis on fossil fuels, mirrors that of
Also in this section
13 March 2025
Government awards €1.21b of funding to seven large-scale projects as it chases capacity target of 12GW by 2030
12 March 2025
Speakers at this year’s CERAWeek conference noted the growing interest in green hydrogen, but hurdles such as cost remain to its adoption at scale
11 March 2025
A reassessment of clean hydrogen’s growth trajectory is underway, but the energy vector’s long-term potential to decarbonise remains intact
10 March 2025
Collaboration has become crucial to success as projects turn out to be more complex and expensive than previously thought, industry figures tell Dubai conference
