Senior executive with broad experience within the energy sector. I have built my career through various leadership roles in major infrastructure projects, executive line manager roles with People & Leadership accountability, creating business, political and industrial relations. Through the career I have worked across business areas and geographies. Currently, I’m head of UK renewables based in London for Equinor, an international energy company headquartered in Norway.

Title of the Presentation:   

Leading profitable and sustainable business in the renewable industry

Key words:  

Leadership, building profitable business, affordability for consumers, geopolitical situation impact, Stakeholder engagement and business impact, sustainability, quality issues.

Key message:

Developing business in renewables is needed for Equinor to be a relevant, profitable and attractive company in the future. We acknowledge the current challenges related to developing profitable growth and value chains in renewables. Inflation, supply chain bottlenecks and permitting delays have added to costs and reduced margins, together with the geopolitical situation. This requires strong leadership in navigating. Sustainability must be integrated into core business strategy and have a real value proposition

Abstract: 

In the rapidly evolving renewable energy sector, securing profitable and sustainable business cases is paramount for long-term success. Countries have set high ambitions targets for energy transformation to renewables but is there realism in this or wishful thinking?

Leadership: Strong leadership is required to set clear direction, navigating the complexities of the industry, work in the best interest of Joint Ventures and deal with different shareholders, government, local authorities and communities, NGO’s, lenders if project financed, etc.

Profitability: The renewable business has experienced reduced margins lately due to supply chain constraints resulting in increased cost, permitting delays, inflation, higher interest rates and electricity prices/offtake contracts. This industry needs to competitive and create profitable business and strengthen their cash flow to be resilient.

Stakeholder engagement: strong stakeholder engagement is needed on political level for sustainable frameworks and predictability, consent and permitting processes, deal with landowners, infrastructures NGO’s when preparing for onshore export power cable and local communities for onshore substations. Also deal with fisheries for co-existence offshore

Sustainability: The priorities in the energy transition are Climate with Net Zero targets, Environment & External reporting biodiversity initiatives, and Human Rights & Social Responsibility. Many initiatives are missing a clear value proposition, and we experience that the countries ambition level on net zero targets is pushed somewhat out in time due to capital constraints.  The most successful sustainability initiatives are those that align with commercial objectives, driving both financial and environmental value

Geopolitical situation: since 2019 the geopolitical situation has changed. First, we had the pandemic and then the Russian invasion of Ukraine where the western countries put in place several sanctions. To example on developing Dogger Bank we had to check the sanction list from EU, UK, US and Norway. Currently, the European countries will increase their investment in defense significantly and they will have to re-allocate their capital spending. We experience quality issues through those situations

Quality and Risk leadership: Integrating robust quality management practices with proactive risk assessment and mitigation strategies to enable confidence in decision making and ensure safe and efficient execution and operations to ensure profitable business. «Don’t do stupid shit!» – get the fundamentals right