Equinor to increase low-carbon investment

State energy firm will step up its investments in renewables and low-carbon solutions from 4pc of overall spending to 50pc in 2030

Norwegian state energy firm Equinor will step up its investments in renewables and low-carbon solutions from 4pc of capex in 2020 to about 50pc in 2030. The company expects to reach an installed renewable capacity of 12-16 GW by 2030. “With the plans we are outlining today, we expect to invest about $50bn gross in renewables and low-carbon solutions towards 2030,” Equinor CEO Anders Opedal, said at the firm’s capital markets day. Equinor expects gross investment in renewables of around $23bn from 2021 to 2026. The firm has also set interim targets to net reduce carbon intensity by 20pc by 2030 and 40pc by 2035 before reaching net-zero emissions by 2050. “With the plans we are ou

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