Aker Solutions Outlines Low Carbon and Renewables Target
- Business & Finance
Aker Solutions said it aims to generate about half of its revenue from renewable or distinct low carbon solutions by 2030, according to the company’s 20/25/30 strategy.
According to the company, the oil and gas industry will remain its biggest market, but over the next decade Aker Solutions plans to have a more balanced portfolio of products and technologies that either generate renewable energy or removes or substantially reduces CO2 emissions.
“The world will continue to see rising energy demand and the challenge for our industry is the need to deliver this with a significantly lower carbon emissions,” said Luis Araujo, chief executive officer of Aker Solutions. “No company is better positioned than Aker Solutions to deliver the solutions to realize renewable energy offshore and at the same time decarbonize the oil and gas industry.”
In its updated enterprise strategy the company said it aims to derive 20 percent of its revenue from renewable energy and 25 percent from distinct low-carbon solutions.
The renewable energy solutions will primarily come from floating wind while the low carbon segment is a set portfolio of existing Aker Solutions offerings, including: carbon capture, utilization and storage (CCUS), subsea gas compression, electrification of production assets and unmanned platforms.
“Growth in segments such as renewables and CCUS increases the addressable market for Aker Solutions,” said Araujo. “Our ambition is to become the recognized leader in low carbon offerings and sustainable solutions. We will achieve this through realizing our long-term ambition of 20/25/30.“