BP buys 50% of two offshore wind energy fields from Equinor in the US
The transaction between the two corporations amounts to 930 million euros and includes a long-term alliance to seek new opportunities for offshore wind exploitation in the United States
The British energy company BP has reached an agreement with Equinor, the former Statoil, to buy 50% of two of its offshore wind power generation fields located in the waters of New York and Massachusetts (United States) for 1.1 billion dollars (930 million euros), as reported this Thursday in a statement.
Although both companies jointly develop these two fields, the agreement also contemplates a more long-term alliance to seek new offshore wind exploitation opportunities in the North American country.
“This is an important early step in fulfilling our new strategy and our shift towards being an integrated energy company. Offshore wind is growing at around 20% a year globally and is recognized as a key part of delivering. the global need to reduce emissions. Equinor is recognized as an industry leader and this alliance builds on the long joint history of our companies. It will play a vital role in meeting our goal of scaling our renewable energy capacity,” said BP CEO Bernard Looney.
The Empire Wind field, off the coast of New York, is more than 80,000 acres (32,300 hectares). In its first phase of development, it will have between 60 and 80 turbines and a potential to generate up to 2,000 megawatts (MW).
On its side, the Beacon Wind field covers an area of 128,000 acres (51,800 hectares) and will be able to generate up to 2,400 MW when operating at full capacity.
The Norwegian state power company will remain the operator of both fields in the development, construction and operation phases. The deputy director of Empire Wind will be chosen by BP and, eventually, “both fields will have the same number of BP employees as Equinor.
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