Equinor will allocate 50% of contributions to renewables

The company aims to become carbon neutral by 2050, including emissions from production and final consumption
2 minute(s) of reading
15-06-21-canal-solar-Equinor irá destinar 50% dos aportes para renováveis

The oil company Equinor announced, in a statement released this Tuesday (15), that it will allocate more than 50% of contributions to the generation of renewable energy by 2030. Currently, the segment corresponds to 4% of the company's portfolio. 

The company, which aims to become carbon neutral by 2050, said it expects gross investments in sustainable sources of US$ 23 billion from 2021 to 2026 – reaching an installed capacity of 12-16 GW over the next ten years. 

“This is a business strategy to ensure long-term competitiveness in a period of profound change in energy systems as society moves towards net zero,” said Anders Opedal, CEO of Equinor.

Know more: Norwegian companies invest in RN to install a solar plant

“We will continue to reduce emissions and, in the long term, Equinor expects to produce less oil and gas than today, recognizing reduced demand. Significant growth in renewables and low-carbon solutions will increase the pace of change for 2030 and 2035,” highlighted Opedal.

Furthermore, the company highlighted that the energy transition represents an opportunity to create new value chains and markets. In 2035, for example, its ambition is to develop the capacity to store 15-30 million tons of CO₂ per year and supply clean hydrogen in 3-5 industrial clusters.

Picture of Mateus Badra
Matthew Badra
Journalist graduated from PUC-Campinas. He worked as a producer, reporter and presenter on TV Bandeirantes and Metro Jornal. Has been following the Brazilian electricity sector since 2020.

Leave a Reply

Your email address will not be published. Required fields are marked *

Receive the latest news

Subscribe to our weekly newsletter