Equinor Partners with BP in the U.S.

Wind Industry Profile of

Equinor has entered into an agreement with BP to sell 50% non-operated interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration before adjustments of USD 1.1 billion. Through this transaction, the two companies are also establishing a strategic partnership for further growth within offshore wind in the US.

Currently Equinor holds a 100% interest in both the Empire Wind lease, located off the coast of New York State, and the Beacon Wind lease, located off the Massachusetts coast. The transaction is in line with Equinor’s renewable strategy to access attractive acreage early and at scale, mature projects, and capture value by de-risking high equity ownership positions. Equinor will remain the operator of the projects in... ... More: Official Press Release Equinor

Keywords:

Equinor, BP, USA, offshore, developer, wind asset, sale, wind farm, Empire Wind, New York, Beacon Wind, Massachusetts