Game-Changer for Equinor's Offshore Wind Business

Equinor reports adjusted earnings of USD 2.59 billion and USD 1.08 billion after tax in the third quarter of 2019, but admitts the results are impacted by lower commodity prices in the quarter. On the other hand, the renewable energy business is facing a strong outlook.

"The last few months have been a game-changer for our offshore wind business. Together with SSE, we were the winning bidder with three projects at Dogger Bank in the UK, making it the largest offshore wind farm development in the world. In addition, we won the opportunity to develop Empire Wind offshore New York, delivered development plans for Hywind Tampen and realised significant value from the farm-down in the Arkona wind farm offshore Germany” says CEO Eldar Sætre.