Equinor and bp advance offshore wind project off New York

Equinor and bp announced the finalisation of the Purchase and Sale Agreements (PSAs) with the New York State Energy Research and Development Authority (NYSERDA), for Empire Wind 2 and Beacon Wind 1.

The finalisation of the PSAs concludes the contracts awarded in January 2021, when Equinor and bp were selected to provide New York State with offshore wind power in one of the largest renewable energy procurements in the U.S. to date.

Once completed, Equinor and bp’s portfolio of active offshore wind projects (Empire Wind 1, Empire Wind 2 and Beacon Wind 1) will produce enough electricity to power about 2 million New York homes, and will help generate more than $1 billion in economic output to New York State, the companies said in the statement. 

The investments will include ones in ports and infrastructure that they said will reinforce New York’s position as the regional offshore wind industry hub; nonetheless, a leading example of economic activity driven by the energy transition.

“Today’s announcement sets Equinor and bp on the path to provide over 3.3 gigawatts (GW) of offshore wind power for New York. It also offers a large-scale, tangible demonstration of the incredible economic activity and carbon reduction potential being driven by New York’s green energy transition,” said Siri Espedal Kindem, President of Equinor Wind US. “We are proud to help lead the growth of this exciting industry in New York.”

Accordingly the companies said that they will provide generation capacity of 1,260 megawatts (MW) of renewable offshore wind power from Empire Wind 2, and another 1,230 MW of power from Beacon Wind 1, while making substantial investments in New York’s infrastructure.

“These are world class assets and we are moving quickly and safely to get them producing the energy people need in the way that they want it – all the while creating positive ripple effects for the surrounding communities and industry. Today’s milestone is a critical step forward and we will continue to work hard to deliver the Empire Wind and Beacon Wind projects, providing clean energy and stable returns for decades to come," said Felipe Arbelaez, bp’s senior vice president for zero carbon energy.

The companies said that these projects include port upgrades to transform South Brooklyn Marine Terminal into a major staging and assembly facility for the industry, as well as an operations and maintenance base for the projects.