The impairment, announced during the firm's earnings, comes two weeks after New York regulators turned down the company's petition to renegotiate the terms of its offshore wind projects because of soaring costs and supply chain constraints.
"We were disappointed by the rejection of the price adjustment for the contracts," Equinor CEO Anders Opedal told an earnings presentation.
"But shortly after, New York's governor announced a ten-point plan and we are in the process of looking at what that means for us and the potential opportunities for our projects."
Equinor and partner BP (BP.L) are planning to build the Empire Wind 1, Empire Wind 2 and Beacon Wind farms off New York. They have a combined capacity of 3,300 megawatts, capable of powering 2 million homes.
Opedal said in order to go ahead with the projects Equinor needed to see "reasonable profitability" and "robustness compared to the risk".
The impairment contributed to extending the net operating loss at Equinor's Renewables unit to $412 million from a $56 million loss a year ago.
In documents relating to the petitions, Equinor and BP said they were facing upfront capital investments for these projects "in excess of $20 billion".
