NTNU Energy Transition Podcast #82 Equinor’s M&A Strategy: Can Oil and Renewables Coexist? (with Per Arne Solend, Equinor)
Feb 6, 2025
Per Arne Solend, VP of M&A and Insights at Equinor, sheds light on the intricate dance between fossil fuels and renewable energy. He discusses Equinor's strategy for mergers and acquisitions, revealing how the company balances investments in offshore wind and battery technologies with its legacy oil operations. Solend also dives into the challenges of timing investments amid market fluctuations and the critical role of battery technology in supporting renewable energy stability. Tune in for insights on navigating the complex energy landscape!
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Per Arne's Career Anecdote
- Per Arne Solend joined Equinor by accident after business school, initially wanting to be a journalist.
- He started in oil and gas as a rising industry and now leads M&A at Equinor.
Oil vs Renewables M&A Strategy
- Oil and gas M&A focuses on applying existing capabilities to new assets or geographies.
- Renewables M&A involves acquiring new capabilities in emerging markets and technologies like offshore wind and batteries.
Timing Crucial in Renewables M&A
- The renewable energy sector is growing fast but timing investments is critical due to market volatility.
- Smart, countercyclical investments can capitalize when valuations dip, balancing long-term beliefs with market cycles.