Equinor has published its first energy transition plan, which will be submitted for an advisory vote by shareholders at the company’s 2022 Annual General Meeting in May. The plan provides an overview of how the company is progressing toward its 2050 net-zero ambition through short-term actions and medium-term ambitions.
As part of the recently released plan, the company is aiming for an offshore wind goal total of 12-16 GW of installed net renewable capacity by 2030 – five years earlier than previously announced. This would equal more than twice the total global offshore wind capacity installed in 2020.
Equinor has already accessed around two-thirds of its growth ambition through a pipeline anchored by its Dogger Bank and Empire and Beacon Wind projects in the U.K. and the U.S. The company expects to expand the global wind portfolio by moving into other regions, such as Eastern Europe and East Asia, where there is potential for its renewables projects to displace coal from the electricity mix.
Read the full plan here.