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Equinor (EQNR) to Initiate Floating Wind Farm in Norway
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Equinor ASA (EQNR - Free Report) and its partners will initiate the world’s largest floating offshore wind power farm.
The Hywind Tampen farm, which is operated by Equinor, will supply power to the nearby oil and gas platforms.
The wind park will reduce emissions from these platforms by 200,000 tons per year. This is equivalent to 0.4% of Norway’s total carbon dioxide emissions in 2022.
Hywind Tampen is an 88MW floating wind power project, which is designed to provide clean electricity for five platforms at the Snorre and Gullfaks offshore fields in the Norwegian North Sea. The Hywind Tampen wind farm began producing power in November 2022, with full production reached earlier this month.
Hywind Tampen involves 11 wind turbines fixed to a floating base, which is anchored to the seafloor, rather than fixed to the ocean bed. It is suitable for use in deeper waters offshore and Equinor plans to develop this project further.
Equinor is one of the leading offshore wind energy developers. Norway is targeting 30 gigawatts of offshore wind power by 2040. In March, the country scheduled an auction for the first three commercial floating installations.
The project will help create a better energy system in Norway while creating employment to accelerate the expanding green economy.
Headquartered in Stavanger, Norway, Equinor is one of the premier integrated energy companies in the world. Equinor’s key strategy is to capitalize on the renewable energy space and align operations with the Paris Climate Agreement.
USA Compression Partners is one of the largest independent natural gas compression services providers across the United States in terms of fleet horsepower.
USA Compression Partners has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for USAC’s 2023 and 2024 earnings per share is pegged at 30 cents and 55 cents, respectively.
Seadrill is a market-leading international driller with strong exposure in key strategic basins like the U.S. Gulf of Mexico, Brazil and Angola.
Seadrill has witnessed upward earnings estimate revisions for 2023 in the past 60 days. The consensus estimate for SDRL’s 2023 and 2024 earnings per share is pegged at $3.16 and $4.01, respectively.
Global Partners is a leading operator of gasoline stations and convenience stores. Over the past 30 days, GLP has witnessed upward earnings estimate revisions for 2023 and 2024, respectively.
The Zacks Consensus Estimate for Global Partners’ 2023 and 2024 earnings per share is pegged at $3.46 and $3.69, respectively. GLP currently has a Zacks Style Score of A for Value and Growth.
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Equinor (EQNR) to Initiate Floating Wind Farm in Norway
Equinor ASA (EQNR - Free Report) and its partners will initiate the world’s largest floating offshore wind power farm.
The Hywind Tampen farm, which is operated by Equinor, will supply power to the nearby oil and gas platforms.
The wind park will reduce emissions from these platforms by 200,000 tons per year. This is equivalent to 0.4% of Norway’s total carbon dioxide emissions in 2022.
Hywind Tampen is an 88MW floating wind power project, which is designed to provide clean electricity for five platforms at the Snorre and Gullfaks offshore fields in the Norwegian North Sea. The Hywind Tampen wind farm began producing power in November 2022, with full production reached earlier this month.
Hywind Tampen involves 11 wind turbines fixed to a floating base, which is anchored to the seafloor, rather than fixed to the ocean bed. It is suitable for use in deeper waters offshore and Equinor plans to develop this project further.
Equinor is one of the leading offshore wind energy developers. Norway is targeting 30 gigawatts of offshore wind power by 2040. In March, the country scheduled an auction for the first three commercial floating installations.
The project will help create a better energy system in Norway while creating employment to accelerate the expanding green economy.
Headquartered in Stavanger, Norway, Equinor is one of the premier integrated energy companies in the world. Equinor’s key strategy is to capitalize on the renewable energy space and align operations with the Paris Climate Agreement.
Equinor currently carries a Zack Rank #4 (Sell).
Some better-ranked players in the energy sector are USA Compression Partners, LP (USAC - Free Report) and Seadrill Limited (SDRL - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy), and Global Partners (GLP - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
USA Compression Partners is one of the largest independent natural gas compression services providers across the United States in terms of fleet horsepower.
USA Compression Partners has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for USAC’s 2023 and 2024 earnings per share is pegged at 30 cents and 55 cents, respectively.
Seadrill is a market-leading international driller with strong exposure in key strategic basins like the U.S. Gulf of Mexico, Brazil and Angola.
Seadrill has witnessed upward earnings estimate revisions for 2023 in the past 60 days. The consensus estimate for SDRL’s 2023 and 2024 earnings per share is pegged at $3.16 and $4.01, respectively.
Global Partners is a leading operator of gasoline stations and convenience stores. Over the past 30 days, GLP has witnessed upward earnings estimate revisions for 2023 and 2024, respectively.
The Zacks Consensus Estimate for Global Partners’ 2023 and 2024 earnings per share is pegged at $3.46 and $3.69, respectively. GLP currently has a Zacks Style Score of A for Value and Growth.