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'Equinor To Downsize Renewables Unit, Begins Talks With Unions; Company Will Undertake Fewer Projects In Fewer Markets; Priority In Renewables Shifts From Growth To Profitability' - Bloomberg News

Author: Benzinga Newsdesk | August 30, 2024 11:46am

https://www.bloomberg.com/news/articles/2024-08-30/equinor-to-downsize-renewables-unit-begins-talks-with-unions?sref=y3YMCJ4e

 

Equinor ASA will downsize its renewables unit and is beginning discussions with unions regarding employees at the division.

The Norwegian company becomes the latest European oil and gas producer to adjust its clean-energy strategy as the industry faces the dual challenge of rising costs and low returns. Equinor will prioritize profitability over growth and undertake fewer renewables projects in fewer markets, according to an internal memo seen by Bloomberg.

Posted In: EQNR


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