Equinor reshapes power strategy with new PWR Division

Norway-headquartered Equinor, global energy company, has announced that it is restructuring its power-related operations by creating a new business area called "Power" (PWR). This new division merges its renewable energy assets (like wind and solar) with flexible power assets (such as gas-to-power and energy storage) to strengthen its position in the evolving power market. Helge Haugane, who was earlier in charge of Gas & Power, has been chosen to lead the new Power business area as executive vice president from September 2025. This step is part of Equinor’s plan to handle the rising need for electricity from things like electrification, AI, and data centres, while making power supply more reliable and better managed.