BP and Equinor cement US offshore wind partnership

BP and Equinor today completed the formation of their strategic US offshore wind partnership.
This includes BP’s $1.1 billion purchase from Equinor of a 50% interest in two major lease areas off the US East Coast.
The new partnership will develop up to 4.4GW through two projects – Empire Wind and Beacon Wind – and together pursue further growth in the US offshore wind market.
The completion of the partnership follows the recent success of the Empire Wind 2 and Beacon Wind 1 projects in being selected to provide New York State with 2.5GW of power.
This is the biggest US offshore wind award to date.

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