Equinor CEO drops offshore wind targets amid sector-wide pressure
Equinor abandons its offshore wind build-out goals as cost pressures and project cancellations reshape developer strategies across Europe.
By Matthias Blank · drafted with the Vantage newsroom system, approved before publication
Equinor's CEO has conceded the company cannot meet its offshore wind capacity targets, according to Recharge News (16 June). The admission is significant: Equinor had been among the more committed oil majors to renewables, and its retreat narrows the field of credible large-scale offshore wind developers in Europe at a moment when the pipeline needs scaling, not shrinking.
The wider picture is mixed. The UK government tapped Japanese capital for a reported $12bn floating wind war chest, and Scotland's GOW 2026 conference is positioning available seabed acreage as a growth opportunity, with a separate fund drawing a £2.2bn project pipeline. BnM and SSE also filed a new consent application for the Littleton onshore wind project in the same 48-hour window.
On the supply side, Siemens and Neptun Smulders secured a 2 GW offshore converter platform contract, per Renews.biz (17 June). That deal shows the fabrication tier remains active even as developers reassess what they are willing to commit to build.
Source: Recharge News
Photo by Expect Best on Pexels.
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