Thor Egeland, who led Equinor Ventures’ clean energy investments, has moved to Statkraft to oversee business development and M&A.
Thor Olav Thorsnes Egeland has left Equinor Ventures, the corporate venturing unit of Norwegian oil and gas producer Equinor, after seven years and joined Norwegian state-owned hydropower generator Statkraft.
Egeland spent 14 years at Equinor. He joined the firm in 2009 when it was still known as Statoil. Following stints in investment analyst roles, he joined Equinor Energy Ventures in 2016 as an investment manager.
In early 2021, Egeland began leading Equinor Ventures’ global clean power team, focusing on clean energy-related investments covering wind, solar, nuclear fission and fusion. He sat on boards of the unit’s portfolio companies including infrastructure management platform eSmart Systems and solar cell developer Oxford PV.
In his new role as vice president of the Nordics portfolio at Statkraft, Egeland will shift his focus from venture capital to portfolio, business development, and mergers and acquisitions while continuing to target hydro, wind and solar companies.
Earlier this year, Gareth Burns, who worked at Equinor for two decades, most recently as VP and head of Equinor Ventures, joined BP Ventures, another CVC unit investing on behalf of energy company BP.