Equinor and bp have completed their previously announced transaction, whereby Equinor has sold a 50% interest in both the Empire Wind and Beacon Wind assets on the US east coast for a total cash consideration of around USD 1.1 bn excluding customary purchase price adjustments.
Equinor will remain the operator of the projects in these leases through the development, construction and operations phases, and the wind farms will be equally staffed in operations. On 13 January 2021 the New York State Energy Research and Development Authority (NYSERDA) announced that Equinor and bp had been selected to provide New York State with offshore wind power. Under the award, Equinor and bp will provide generation capacity of 1,260MW of renewable offshore wind power from Empire Wind 2, and a further 1,230MW of power from Beacon Wind 1. The execution of the procurement award is subject to the successful negotiation of a purchase and sale agreement with NYSERDA.