Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Equinor (EQNR) to Develop 2 Low-Carbon Power Stations in UK

By Zacks Investment ResearchStock MarketsApr 08, 2021 10:47PM ET
Equinor (EQNR) to Develop 2 Low-Carbon Power Stations in UK
By Zacks Investment Research   |  Apr 08, 2021 10:47PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Equinor ASA (NYSE:EQNR) EQNR recently announced that it will develop two power stations in the Humber region of the United Kingdom in association with British utility SSE (LON:SSE) Thermal. Both the power stations will be first of a kind and focus on low carbon emissions. The move will boost the decarbonization process in one of the most carbon-intensive industrial clusters in Humber, U.K.

The project is expected to generate thousands of skilled jobs. The power stations will be fitted with the carbon capture and storage (CCS) technology, which will support U.K.’s target of accelerating the decarbonization process and aid in net-zero transition. The final investment decisions for the project are dependent on local policy frameworks. The new stations will likely replace carbon-intensive power generation on the grid.

The Keadby Hydrogen power station is expected to have a peak demand of 1,800 megawatt (MW) of hydrogen. Importantly, hydrogen is expected to replace and reduce the usage of hydrocarbons for power generation. During combustion, the station — a completely hydrogen-fired one — will produce no emissions. The company expects the station to start operations before 2030. It plans to supply low-carbon hydrogen at the site from the H2H Saltend project.

It will develop the Keadby 3 power station with the CCS technology, which will store carbon dioxide under the Southern North Sea. The station, which may start operations by 2027, will be powered by natural gas. Notably, it is expected to achieve 15% of the 10MT per annum carbon capture target by 2030.

Equinor’s partnership with SSE is expected to be further strengthened with this move. The companies have partnered on projects like Aldbrough Gas Storage facility and the massive Dogger Bank offshore wind farm.

Price Performance

Shares of the company have gained 45.3%, outperforming the industry’s 32.7% growth in the past year.

Zacks Rank & Other Stocks to Consider

The company currently sports a Zacks Rank #2 (Buy). Other top-ranked players in the energy space include CrossAmericaPartners LP CAPL, Covanta Holding (NYSE:CVA) Corporation CVA and Evergy (NYSE:EVRG), Inc. EVRG, each having a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

CrossAmerica’s bottom line for first-quarter 2021 is expected to surge 166.7% year over year.

Covanta Holding’s bottom line for 2021 is expected to surge 109.5% year over year.

Evergy’s bottom line for first-quarter 2021 is expected to rise 12.2% year over year.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer (NYSE:SAM) Company which shot up +143.0% in a little more than 9 months and Nvidia (NASDAQ:NVDA) which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Covanta Holding Corporation (CVA): Get Free Report

CrossAmerica Partners LP (CAPL): Free Stock Analysis Report

Evergy Inc. (EVRG): Get Free Report

Equinor ASA (EQNR): Get Free Report

To read this article on click here.

Zacks Investment Research
Equinor (EQNR) to Develop 2 Low-Carbon Power Stations in UK

Related Articles

Jani Ziedins
Why Bulls Control This Market By Jani Ziedins - May 07, 2021

Thursday was a good session for the S&P 500 with the index reclaiming 4,200 resistance. Two days ago it looked like the market was breaking down, today it looks like everything is...

Equinor (EQNR) to Develop 2 Low-Carbon Power Stations in UK

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email