BAKU, Azerbaijan, May 1. In 1Q2024, Equinor announced a renewable power generation of 739 GWh, Trend reports.
According to the company's latest financial statement, this marks a 45-percent increase compared to the same period last year (511 GWh in 1Q2023). Additionally, this volume surged by 12 percent compared to 4Q2023 (661 GWh).
In the reporting period of 2024, Equinor's offshore wind farms produced 468 GWh, primarily from Dudgeon, Sheringham Shoal, and Arkona. Additionally, onshore renewables contributed another 271 GWh.
The significant uptick in generation compared to the same quarter in 2023 was fueled by the installation of onshore power plants in Poland and Brazil, as well as the successful commencement of production at the partner-operated Mendubim solar plants, also located in Brazil, the producer explained.
Moreover, the operational onshore wind farms in Brazil and Poland made a notable positive impact on third-party revenues, additional revenue streams, and overall income in 1Q2024 compared to the previous year.
Meanwhile, in 1Q2024, Equinor posted an adjusted operating income of $7.53 billion, with $2.57 billion after tax. Net operating income stood at $7.63 billion, resulting in a net income of $2.67 billion. Adjusted net income amounted to $2.84 billion, translating to adjusted earnings per share of $0.96.