Equinor and bp form US offshore wind partnership

It comes as the two companies completed their previously announced deal, whereby Equinor sold a 50% interest in both the Empire Wind and Beacon Wind assets on the US east coast

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Equinor and bp are combining their strengths to enable profitable growth in the offshore wind industry in the US with the formation of a strategic partnership.

It comes as the two companies completed their previously announced deal, whereby Equinor sold a 50% interest in both the Empire Wind and Beacon Wind assets on the US east coast for around $1.1 billion (£0.80bn)..

Equinor will remain the operator of the projects in these leases through the development, construction and operation phases.

Last month, the two companies were selected to provide New York State with offshore wind power in one of the largest renewable energy procurements in the US to date.

They will provide generation capacity of 1,260MW of renewable offshore wind power from Empire Wind 2 and a further 1,230MW of electricity from Beacon Wind 1.

When added to the existing commitment to provide New York with 816MW of renewable power from Empire Wind , this totals to 3.3GWGW of electricity.

Dev Sanyal, bp’s Executive Vice President of gas and low carbon energy said: “We see significant opportunities by rapidly growing bp’s offshore wind business, making a major contribution to our strategic goals and developing assets that will provide long-term, stable returns.

“Partnering with Equinor, we look forward to developing these world class assets in the fastest growing energy sector.  We will work with communities and authorities in New York to develop a leading offshore wind industry hub, including the South Brooklyn Marine Terminal and the Port of Albany. The partnership will continue to identify new opportunities elsewhere in the US and is committed to providing people with the energy they need in the way they want it.”

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