The US Department of Interior (DOI) has approved the development of the 2,076 MW Empire Wind offshore wind project, located off the coast of the US States of New York and New Jersey. The project, developed by Norway’s Equinor and the UK’s BP, consists of two offshore wind parks, the 816 MW Empire Wind 1 and the 1,260 MW Empire Wind 2, which will together total 147 turbines and be able to supply electricity to about 700,000 US households. Empire Wind 1 is expected to start production in 2026 and Empire Wind 2 in 2027.
In October 2023, Equinor and BP booked US$300m and US$540m in impairments respectively on their projects off New York, after the state's regulator (New York State Public Service Commission, NYSPSC) rejected their request to renegotiate power supply terms. Equinor and BP sought a 35% increase for Empire Wind 1 (from US$118.38/MWh and a 66% rise for Empire Wind 2 (US$107.50/MWh).
The State of New York aims to develop 9 GW of offshore wind by 2035. At the federal level, the United States target 30 GW of offshore wind capacity by 2030 and 15 GW of floating offshore wind capacity by 2035 (only 42 MW were operational at the end of 2022).
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