Equinor has reported an impairment of USD 955 million in the second quarter of 2025, primarily related to its offshore wind activities in the USA. The impairment stems from regulatory changes that have reduced future synergies for the Empire Wind 1 and South Brooklyn Marine Terminal project, and increased tariff exposure.
Of the total impairment, USD 763 million is linked to Empire Wind 1 and the South Brooklyn site, with the remainder attributed to the Empire Wind 2 lease. Despite the write-down, Equinor confirmed that development of Empire Wind 1 has resumed. It also achieved financial close for the Bałtyk 2 and 3 offshore wind projects in Poland, which it described as reaching favourable terms.
Total renewable power generation in the quarter reached 0.83 terawatt-hours, supported by ramp-up at Dogger Bank A and new production from the Lyngsåsa onshore wind farm in Sweden, acquired earlier in 2025.
Equinor’s overall adjusted operating income for the quarter was USD 6.53 billion, with adjusted net income at USD 1.67 billion. Net operating income declined from the same period last year due to lower liquids prices and the offshore wind impairment.
The company stated it remains committed to growing its renewables portfolio, while adapting to a more volatile market and regulatory environment.
