Kari Lundgren, "Equinor Cuts Renewables Target Just Months After Orsted Deal" https://financialpost.com/pmn/business-pmn/equinor-winds-back-renewable-energy-target-to-reduce-costs

« Equinor on Wednesday increased its forecast for growth in oil and gas production, while reducing its 2030 target for renewables capacity to 10 to 12 gigawatts, from as much as 16 gigawatts previously. It will cut investment in low-carbon solutions and renewables to $5 billion up to 2027. [...]

Larger European competitor Shell kicked off earnings for the majors last week, writing off almost $1 billion after withdrawing from a US offshore wind farm. But it’s not just oil companies curbing their renewables growth. Orsted last year cut a 2030 target for green power project construction. And utility RWE AG said in November its plan to spend €55 billion ($57 billion) on green technologies by 2030 may face delays. »

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