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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Equinor ASA    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
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Equinor bids for two wind power projects off U.S. East Coast

10/20/2020 | 04:57pm EST

OSLO, Oct 20 (Reuters) - Norwegian energy firm Equinor said on Tuesday it had submitted two bids in New York's second offshore wind auction, following a deal it signed with BP last month to cooperate on offshore wind in the United States.

Equinor said it was bidding for two projects off the U.S. East Coast, Empire Wind Phase 2 and Beacon Wind, which together have the potential to power more than one million U.S. homes, with BP becoming a 50% non-operating partner.

Equinor, which is already developing the 816-megawatt capacity Empire Wind Phase 1 offshore wind park, plans to use the South Brooklyn Marine Terminal for construction activities, it added in a statement.

"The U.S. offshore wind industry is poised for expansion and we are passionate about creating substantial value in the New York market," said Siri Espedal Kindem, president of Equinor Wind U.S..

The Empire Wind project is located about 15-30 miles (24-48 kilometres) southeast of Long Island, while Beacon Wind is about 20 miles south of Massachusetts and 60 miles east of New York.

Equinor did not elaborate in its statement on the expected capacity or amount of investment needed for the two projects, and was not immediately available for comment.

BP acquired stakes in Equinor's offshore wind power for $1.1 billion in September. The British oil and gas firm has set a goal of significantly boosting its renewable power generation capacity. (Reporting by Nerijus Adomaitis, Editing by Rosalba O'Brien)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -0.13% 263.6868 Delayed Quote.-44.13%
EQUINOR ASA 2.12% 147.05 Delayed Quote.-18.09%
LONDON BRENT OIL 0.38% 47.88 Delayed Quote.-26.00%
NORWEGIAN ENERGY COMPANY ASA 1.46% 138.5 Delayed Quote.-39.25%
WTI 0.47% 45.165 Delayed Quote.-25.37%
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More news
Financials (USD)
Sales 2020 45 616 M - -
Net income 2020 -2 583 M - -
Net Debt 2020 19 481 M - -
P/E ratio 2020 -21,1x
Yield 2020 2,93%
Capitalization 52 698 M 52 722 M -
EV / Sales 2020 1,58x
EV / Sales 2021 1,25x
Nbr of Employees 21 412
Free-Float 31,9%
Chart EQUINOR ASA
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Equinor ASA Technical Analysis Chart | EQNR | NO0010096985 | MarketScreener
Technical analysis trends EQUINOR ASA
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 16,60 $
Last Close Price 16,19 $
Spread / Highest target 33,1%
Spread / Average Target 2,51%
Spread / Lowest Target -32,5%
EPS Revisions
Managers
NameTitle
Anders Opedal President & Chief Executive Officer
Jon Erik Reinhardsen Chairman
Jannicke Nilsson Chief Operating Officer
Svein Skeie Chief Financial Officer
Bjørn Tore Godal Independent Non-Executive Director
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