We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Equinor (EQNR) Begins Production at Poland's Zagorzyca Plant
Read MoreHide Full Article
Equinor ASA (EQNR - Free Report) began test production at its second solar facility in Poland, one of Europe’s fast-growing renewable energy markets.
The 60-megawatt solar facility, known as Zagorzyca, is situated in the Damnica municipality of Slupsk County. Zagorzyca is Equinor’s second photovoltaic asset in Poland, where the company is developing a broad energy offering among onshore and offshore projects.
The solar farm involves 111,000 solar panels over 55 hectares. The Zagorzyca facility is developed and operated by Equinor’s wholly-owned subsidiary, Wento. In 2021, Equinor acquired Wento and its total solar project pipeline of 1.6 gigawatts in different development stages.
Since the acquisition, two solar facilities in Poland have been ready. Another facility is being developed. Equinor’s first solar facility Stepien is already in commercial production. The company is developing a third facility, Lipno, which it plans to bring online in 2024.
Zagorzyca will be in operation for 30 years, with an annual production capacity of 61 gigawatt hours of power. This is equivalent to the power requirement of 31,000 Poland households. Equinor’s energy trading house, Danske Commodities, will market and supply electricity from Zagorzyca to the Poland power market.
The growing urgency to curb climate change has led to a global shift toward a low-carbon economy. There has been an increase in demand for the transition to solar energy in the fight against greenhouse gas emissions.
To combat climate change and capitalize on the rising clean energy demand, Equinor is actively investing in renewable energy projects, including power generation from solar energy. The latest move shows the company’s commitment to support Poland’s energy transition.
Price Performance
Shares of Equinor have outperformed the industry in the past three months. The stock has gained 3% against the industry’s 1.2% decline.
Seadrill is a market-leading international driller with strong exposure in key strategic basins like the U.S. Gulf of Mexico, Brazil and Angola. SDRL reported first-quarter 2023 earnings of 83 cents per share, beating the Zacks Consensus Estimate of earnings of 55 cents per share.
Seadrill has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 60 days. The consensus estimate for SDRL’s 2023 and 2024 earnings is pegged at $2.93 per share and $4.01 per share, respectively.
Evolution Petroleum is an independent energy company. EPM reported first-quarter 2023 earnings of 42 cents per share, beating the Zacks Consensus Estimate of earnings of 17 cents per share.
Evolution Petroleum has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 60 days. The consensus estimate for EPM’s 2023 and 2024 earnings is pegged at $1.11 and $1.05 per share, respectively.
PHX Minerals is an oil and natural gas mineral company. The company posted first-quarter 2023 earnings of 11 cents per share, beating the Zacks Consensus Estimate of earnings of 7 cents per share.
PHX has witnessed upward earnings estimate revisions for 2024 in the past 60 days. The consensus estimate for the company’s 2023 and 2024 earnings per share is pegged at 28 cents and 45 cents, respectively.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Equinor (EQNR) Begins Production at Poland's Zagorzyca Plant
Equinor ASA (EQNR - Free Report) began test production at its second solar facility in Poland, one of Europe’s fast-growing renewable energy markets.
The 60-megawatt solar facility, known as Zagorzyca, is situated in the Damnica municipality of Slupsk County. Zagorzyca is Equinor’s second photovoltaic asset in Poland, where the company is developing a broad energy offering among onshore and offshore projects.
The solar farm involves 111,000 solar panels over 55 hectares. The Zagorzyca facility is developed and operated by Equinor’s wholly-owned subsidiary, Wento. In 2021, Equinor acquired Wento and its total solar project pipeline of 1.6 gigawatts in different development stages.
Since the acquisition, two solar facilities in Poland have been ready. Another facility is being developed. Equinor’s first solar facility Stepien is already in commercial production. The company is developing a third facility, Lipno, which it plans to bring online in 2024.
Zagorzyca will be in operation for 30 years, with an annual production capacity of 61 gigawatt hours of power. This is equivalent to the power requirement of 31,000 Poland households. Equinor’s energy trading house, Danske Commodities, will market and supply electricity from Zagorzyca to the Poland power market.
The growing urgency to curb climate change has led to a global shift toward a low-carbon economy. There has been an increase in demand for the transition to solar energy in the fight against greenhouse gas emissions.
To combat climate change and capitalize on the rising clean energy demand, Equinor is actively investing in renewable energy projects, including power generation from solar energy. The latest move shows the company’s commitment to support Poland’s energy transition.
Price Performance
Shares of Equinor have outperformed the industry in the past three months. The stock has gained 3% against the industry’s 1.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Equinor currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Seadrill Limited (SDRL - Free Report) , Evolution Petroleum Corporation (EPM - Free Report) and PHX Minerals Inc. (PHX - Free Report) . SDRL and EPM currently sport a Zacks Rank of 1 (Strong Buy), and PHX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Seadrill is a market-leading international driller with strong exposure in key strategic basins like the U.S. Gulf of Mexico, Brazil and Angola. SDRL reported first-quarter 2023 earnings of 83 cents per share, beating the Zacks Consensus Estimate of earnings of 55 cents per share.
Seadrill has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 60 days. The consensus estimate for SDRL’s 2023 and 2024 earnings is pegged at $2.93 per share and $4.01 per share, respectively.
Evolution Petroleum is an independent energy company. EPM reported first-quarter 2023 earnings of 42 cents per share, beating the Zacks Consensus Estimate of earnings of 17 cents per share.
Evolution Petroleum has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 60 days. The consensus estimate for EPM’s 2023 and 2024 earnings is pegged at $1.11 and $1.05 per share, respectively.
PHX Minerals is an oil and natural gas mineral company. The company posted first-quarter 2023 earnings of 11 cents per share, beating the Zacks Consensus Estimate of earnings of 7 cents per share.
PHX has witnessed upward earnings estimate revisions for 2024 in the past 60 days. The consensus estimate for the company’s 2023 and 2024 earnings per share is pegged at 28 cents and 45 cents, respectively.