Equinor CFO Says Unlikely That Empire Wind 2 in US Will Progress

Equinor CFO Torgrim Reitan says a $955 million impairment on the Empire Wind project is driven by regulatory changes in the US and that the company is unlikely to pursue the second stage of the wind farm.

• There is “very little probability” for more offshore wind projects getting developed in the US in the “foreseeable future,” Reitan says in a Bloomberg TV interview
  • This negatively affects the company’s efforts to build a staging facility for future construction
• Equinor is focusing on delivering Empire Wind, which should be producing power by the end of next year
• NOTE: Trump U-Turn on $5 ...