Baku, Azerbaijan, April 10. Equinor has
announced the creation of a new Power business area (PWR), which
will combine its renewables portfolio with flexible power assets,
Trend reports.
Helge Haugane has been appointed executive vice president of the
new business area, effective from September.
The new structure aims to strengthen Equinor’s position in the
power market by integrating offshore and onshore wind, solar,
gas-to-power, and energy storage assets. The move responds to
growing power demand driven by electrification, AI, and data center
expansion.
PWR will merge the current Renewables (REN) business with
flexible power assets from Marketing, Midstream and Processing
(MMP). Gas and power trading will remain part of MMP. Segment
reporting adjustments will be considered as part of the
transition.
Equinor’s power portfolio includes major offshore wind projects
in the UK, US, and Poland, and investments in energy storage in the
US, UK, and Poland. Its flexible power assets include the Triton
Power gas-to-power plant and the planned Net Zero Teesside
gas-fired power station with carbon capture in the UK.
Haugane currently leads Gas & Power in MMP and will assume
leadership of the new PWR business area as the organisational
changes take effect.