Equinor has reported an operating loss for its renewables division largely driven by an impairment on the 810MW Empire Wind 1 array in the US.
The $1.6bn loss includes the effect of a $1.4bn in impairment losses mainly related to Empire and the South Brooklyn Marine Terminal.
Empire Wind 1 suffered from a pair of shut down orders in the past year, flowing from US President Donald Trump’s sector-wide attack on the offshore wind industry.
The first shut down order in April stopped work on the project for five weeks, while the second in December stopped work on the array between 22 December and 16 January.
Equinor said in the annual report that, “despite a challenging political environment in the US”, the project progressed according to plan in 2025 and is expected to deliver first power in late 2026.