Press

. Irene Rummelhoff, executive vice president for new energy solutions at Equinor - formerly known as Statoil - said the deal will strengthen the company’s position in power generation from renewable energy. “This transaction will strengthen our ability to capture value from our current and future equity production of renewable electricity and supports our aim to grow in new energy solutions,” she said. Equinor is expanding into the electricity business just as a global energy market traditionally dominated by oil shifts towards a lower-carbon system, with greater roles for gas and renewable power. Equinor expects to invest 15 - 20 per cent of its capital expenditure in low-carbon energies and cleaner technologies by 2030. - Financial Times -