Clean Power Professionals Group
This special interest group is for professionals to connect and discuss all types of carbon-free power alternatives, including nuclear, renewable, tidal and more.
Shared Link
World's largest offshore wind farm unprofitable for Equinor, say researchers
"Equinor’s investment in Dogger Bank – the world’s largest offshore wind project under construction – will be unprofitable, according to a Norwegian government-funded study.
The new research raises challenging questions about the Norwegian state-controlled oil and gas giant’s energy transition strategy.
The study was submitted this month to Norway’s Petroleum & Energy Ministry, which financed it as part of wider research into potential energy transition opportunities for the country.
Equinor chief executive Anders Opedal set ambitious new goals in June for the company to step up its investments in “renewables and low carbon solutions” to more than 50% of its gross annual investments by 2030.
Equinor sees the Dogger Bank project in the UK North Sea as a world-class asset that benefits from strong wind conditions, innovations and unprecedented scale: It will have 3.6 gigawatts of installed capacity when completed.
One of the study’s authors told Upstream that the massive project’s rate of return does not exceed Equinor’s rate of return requirement, so the researchers deem the project to be unprofitable."
World's largest offshore wind farm unprofitable for Equinor, say researchers
New Norwegian study challenges Equinor's profitability from the world largest offshore wind project under construction, located in the UK North Sea
Discussions
No discussions yet. Start a discussion below.
Get Published - Build a Following
The Energy Central Power Industry Network® is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.
If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.
Your access to Member Features is limited.
Sign in to Participate