The New York State Energy Research and Development Authority (NYSERDA) (United States) has selected the Equinor - BP partnership to provide 2,490 MW of power as part of its second offshore wind solicitation. Equinor’s proposal includes two projects, namely 1,260 MW Empire Wind 2 and 1,230 MW Beacon Wind 1. Empire Wind is located southeast of Long Island and is being developed in two phases with a potential total installed capacity of more than 2 GW (816 MW first phase already selected in a NYSERDA solicitation). Beacon Wind is located east of Montauk Point and south of Nantucket with a potential total installed capacity of more than 2.4 GW.
In September 2020, Equinor signed an agreement with BP to sell a 50% stake in the Empire Wind and Beacon Wind assets for US$1.1bn. BP’s acquisition of stakes in Empire Wind and Beacon Wind is expected to close in early 2021, subject to customary conditions and authority approval. Equinor and BP will also transform two New York ports into large-scale offshore wind working industrial facilities. The execution of the procurement award is subject to the successful negotiation of a purchase and sale agreement.
In January 2019, the governor of New York announced a new offshore wind capacity target of 9,000 MW for 2035, which is a nearly fourfold increase compared with the previous target of 2.4 GW by 2030. The additions in offshore wind capacity are essential in order to achieve its renewable electricity target of 70% by 2030, up from the previous target of 50%.
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