Equinor Executes Offtake Agreement For Empire Wind 1: Details
Portfolio Pulse from Lekha Gupta
Equinor ASA (NYSE:EQNR) has finalized a Purchase and Sale Agreement with NYSERDA for renewable power from the Empire Wind 1 offshore wind project. Construction is underway, with power delivery expected by late 2026. Equinor is also divesting stakes in the Eirin and Gina Krog fields and investing in Troll West gas infrastructure. Investors can gain exposure via Macquarie Energy Transition ETF (NYSE:PWER) and Pacer Developed Markets International Cash Cows 100 ETF (BATS:ICOW).
June 05, 2024 | 4:10 pm
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Equinor ASA has finalized a PSA with NYSERDA for the Empire Wind 1 project, with power delivery expected by late 2026. The company is also divesting stakes in the Eirin and Gina Krog fields and investing in Troll West gas infrastructure.
The finalization of the PSA with NYSERDA and the progress on the Empire Wind 1 project are positive developments for Equinor, indicating strong future revenue streams from renewable energy. The divestment of stakes in other fields and investment in gas infrastructure also show strategic asset management.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Pacer Developed Markets International Cash Cows 100 ETF (BATS:ICOW) includes Equinor ASA, which has finalized a PSA with NYSERDA for the Empire Wind 1 project.
The ETF's inclusion of Equinor ASA, which is advancing in renewable energy projects, could enhance its attractiveness to investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Macquarie Energy Transition ETF (NYSE:PWER) provides exposure to Equinor ASA, which has finalized a PSA with NYSERDA for the Empire Wind 1 project.
The ETF's exposure to Equinor ASA, which is making significant strides in renewable energy projects, could positively impact its performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50