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How strong is Equinor’s offshore wind of change?
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Equinor’s energy transition strategy is one the boldest of the oil and gas Majors. At the heart is Equinor’s plan to become an “offshore wind major”. In 2020, Equinor and SSE will sanction Dogger Bank A, the first phase of world’s largest offshore wind farm. Equinor is also scaling-up its floating wind capabilities with its Hywind technology. But just how strong are the winds of change? We put Equinor’s offshore wind business into context
Table of contents
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Equinor’s renewables growth strategy
- Equinor has built a material offshore wind portfolio
- with plans to grow by at least another 30%
- Offshore wind could account for 20% of company capital spend to 2030
- Dogger Bank leads the development pack
- The impact of offshore wind on the overall business
- Conclusions
Tables and charts
This report includes the following images and tables:
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Equinor’s renewables growth strategyDogger Bank A net cash flow comparisonDogger Bank A IRR sensitivity (leveraged)
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Projected free cash flow from 12 GW wind portfolio vs current upstream business and 2019 dividendBenchmark: annual cash flow sensitivity to US$1/bbl movement in Brent oil priceEquinor’s wind portfolioEquinor net equity wind capacity by countryEquinor projected net equity wind capacity from current portfolio versus company targetsProjected offshore wind capital investmentEquinor total projected capex by segment (2020-2029)
What's included
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