Equinor ASA ADR
EQNR: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$53.10 | Hcn | Fgsylfbp |
Equinor Accelerates Push Into Renewables, Ramps Up Share Repurchases as Oil and Gas Prices Recover
Business Strategy and Outlook
Equinor is accelerating its push into renewable energy in pursuit of its 2050 net-zero goal. Central to its strategy is growth of its burgeoning offshore wind business. While installed capacity only stands at 1.3 GW currently, Equinor plans to grow that to 12-16 GW by 2030, a target it previously set for 2035. To do so, it plans to increase renewable spending from 12% of total capital investment to over 50% by 2030, including a cumulative gross $23 billion during the next five years.