Equinor and Statkraft gear up renewable investments based on their own resources

Business August 22, 2024 / By: Bjørn H Amland

Development Today’s investigation into Norwegian financing of renewable energy in the Global South shows that the scale of investments is miniscule compared with the country’s enormous and expanding oil wealth. The review focuses on the Oil Fund and Norfund (See Separate Story). To understand Norway’s engagement in green energy, it is also necessary to examine two large companies controlled by the Norwegian state: the fossil fuel company Equinor and the renewable utility Statkraft.

Hywind Tampen in the North Sea.jpg — Much of Equinor’s renewable energy investments are in Europe and the United States, though its portfolio also includes some projects in non-OECD countries. These windmills are from Hywind Tampen in the North Sea. (Photo: Ole Jørgen Bratland, Equinor)