# Renewables & Oilcos **URL:** https://forum.gcaptain.com/t/renewables-oilcos/59729 **Category:** Scuttlebutt **Created:** [June 15, 2021, 11:39am UTC](https://forum.gcaptain.com/t/renewables-oilcos/59729 "2021-06-15T11:39:15Z") **Posts on this page:** 1 **Page:** 1
### Author: ![ombugge](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.gcaptain.com/ombugge/32/11217_2.png) [@ombugge](https://forum.gcaptain.com/u/ombugge) #### Post date: [June 15, 2021, 11:39am UTC](https://forum.gcaptain.com/t/renewables-oilcos/59729/1 "2021-06-15T11:39:15Z")
More and more Oilcos are getting into renewables: > **[Equinor to spend $23bn on renewables in the next five years - Splash247](https://splash247.com/equinor-to-spend-23bn-on-renewables-in-the-next-five-years/)** > > Equinor has said it will increase investments in renewables and low-carbon solutions, aiming to reach a 40% reduction in net carbon intensity by 2035. By 2030, more than 50% of gross annual investments will be directed to renewables and green... > [@](#): > > “We will continue to cut emissions, and in the longer term, Equinor expects to produce less oil and gas than today, recognising reducing demand. Significant growth within renewables and low carbon solutions will increase the pace of change towards 2030 and 2035,” Ørsted (formerly DONG) has gone whole hog and become a pure renewables operator. They are now also getting into Green fuels: > **[Ørsted to boost Green Fuels for Denmark project with carbon capture - Splash247](https://splash247.com/orsted-to-boost-green-fuels-for-denmark-project-with-carbon-capture/)** > > Denmark’s Ørsted has identified its Avedøre Power Station in Copenhagen as the best point source of sustainable CO2 for the next phases of the potential 1.3 GW Green Fuels for Denmark project to produce sustainable fuels in the Greater Copenhagen... PS\> Both Equinor and Ørsted are big players in the US renewables market, with large investments planned in offshore wind activity in US waters,