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Equinor Cancels Key Offshore Wind Projects Amid Rising Costs
EQNREquinor(EQNR) ZACKS·2024-08-29 21:37

Equinor ASA (EQNR) , a Norwegian energy giant, announced the cancellation of its offshore wind projects in Spain and Portugal, following a previous similar decision to exit Vietnam. This strategic withdrawal came at the heels of the company facing mounting costs in the offshore wind sector due to inflation, high interest rates and supply chain delays. The company's head of renewables, Paal Eitrheim, shared these updates in an interview with Reuters on Wednesday. EQNR Navigates Rising Costs by Exiting Key Wi ...