Equinor Drops Renewable Energy Goal: “Seen for Several Years We Won’t Reach that Target”

On June 19, 2026, Equinor scrapped its 2030 renewable capacity target of 10–12 GW due to surging lease and project costs, forecasting only 6–7 GW instead; it has repeatedly scaled back its clean energy pledges since its 2021 energy transition strategy launch. While the firm still holds enough carbon capture storage to hit its 2035 CO₂ transport and storage goal, weak decarbonization investment and insufficient public-private support hinder progress, and it newly targets over 20 TWh of power output by 2030 from renewables and gas-fired flexible assets.

Sources: https://www.esgtoday.com/equinor-drops-renewable-energy-goals-seen-for-several-years-we-wont-reach-that-target/