Equinor ASA ADR
EQNR: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $16.70 | Kbljx | Zrqkjhbc |
Equinor a Beneficiary of High Oil and Gas Prices Even as It Invests in Renewables; Increasing FVE
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 net installed capacity only stands at 0.7 gigawatts at end-2021, 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 over the next five years.