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How strong is Equinor’s offshore wind of change?

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27 April 2020

How strong is Equinor’s offshore wind of change?

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

    • 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 10 images and tables including:

  • Equinor’s renewables growth strategy
  • Dogger Bank A net cash flow comparison
  • Dogger Bank A IRR sensitivity (leveraged)
  • Projected free cash flow from 12 GW wind portfolio vs current upstream business and 2019 dividend
  • Benchmark: annual cash flow sensitivity to US$1/bbl movement in Brent oil price
  • Equinor’s wind portfolio
  • Equinor net equity wind capacity by country
  • Equinor projected net equity wind capacity from current portfolio versus company targets
  • Projected offshore wind capital investment
  • Equinor total projected capex by segment (2020-2029)

What's included

This report contains:

  • Document

    How strong is Equinor’s offshore wind of change?

    PDF 972.31 KB