2021-06-25
http://w3.windfair.net/wind-energy/pr/36674-equinor-bp-usa-offshore-wind-farm-empire-wind-beacon-wind-new-yorf-winner-renewable-energy-auction-partnership

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Equinor and bp Complete Formation of Strategic Partnership for U.S. Offshore Wind

Equinor and bp have completed their previously announced transaction, whereby Equinor has sold a 50% interest in both the Empire and Beacon Wind assets for a total cash consideration of around USD 1.1 billion excluding customary purchase price adjustments.

Image: PixabayImage: Pixabay

This transaction is the first step in the strategic partnership in offshore wind where Equinor and bp are combining strengths to enable profitable growth in offshore wind in the developing U.S. market. Equinor will remain the operator of the projects in these leases through the development, construction and operations phases, and the wind farms will be equally staffed in operations.

In January, New York State has announced the two companies winner in one of the largest renewable energy procurements in the U.S. to date. Equinor and bp will construct offshore wind farms with a capacity of 1,260 MW from Empire Wind 2, and a further 1,230 MW from Beacon Wind 1. When added to the existing commitment to provide New York with 816 MW of renewable power from Empire Wind 1 this totals 3.3 gigawatts (GW) of power.

Source:
Equinor
Author:
Windfair Editors
Email:
press@windfair.net
Keywords:
Equinor, bp, USA, offshore, wind farm, Empire Wind, Beacon Wind, New Yorf, winner, renewable energy, auction, partnership



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