RSS   Newsletter   Contact   Advertise with us

BP and Equinor to develop offshore wind energy in U.S.

Christian Fernsby ▼ | September 15, 2020
BP and Equinor announced the formation of a new strategic partnership to develop offshore wind projects in the U.S.
BP   Equinor
This includes the development of existing offshore wind leases on the U.S. East coast and jointly pursuing further opportunities for offshore wind in the U.S.

Topics: Equinor U.S.

As well as forming the new strategic partnership, BP will purchase a 50% interest in both the Empire Wind and Beacon Wind assets from Equinor.

BP has agreed to pay Equinor $1.1 billion.

The partnership will leverage capability and experience from both companies.

Equinor will remain operator of the Empire and Beacon projects in the development, construction and operations phases.

The deputy project director for Empire Wind will be nominated by bp and over time the wind assets will be equally staffed by BP and Equinor.