Published 4 months ago

BP and Equinor Cancel Big New York Offshore Wind Project

Equinor and BP have terminated their agreement with the state of New York for the Empire Wind 2 offshore wind farm due to increased costs and supply chain disruptions.
The cancellation reflects changed economic circumstances and the opportunity to develop a stronger project in anticipation of new offtake opportunities. The sale agreement for Empire Wind 1 remains active.
Many U.S. Offshore wind projects are being disputed or canceled, including Orsted's Ocean Wind 1 and 2 projects in New Jersey, due to surging inflation.

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Reuters

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4 months ago·United Kingdom

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RTÉ

Equinor, BP cancel deal to sell wind power to New York

European energy firms Equinor and BP have terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm.

4 months ago·Ireland

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Benzinga

Equinor, BP Terminate Offshore Wind Power Sale Contract With New York - Equinor (NYSE:EQNR), BP (NYSE:BP)

Energy giants Equinor ASA (NYSE: EQNR) and BP plc (NYSE: BP) have terminated their Offshore Wind Renewable Energy Certificate (OREC) Agreement with the New York State Energy Research and Development Authority (NYSERDA). The agreement is for the Empire Wind 2 project, an offshore wind project in the U.S. with potential generative capacity of 1,260 MW. Economic reasons, including inflation, interest rates, and supply chain disruptions, have led to…

4 months ago·New York, United States

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Financial Post

BP, Equinor Tear Up Contract for Big New York Offshore Wind Project

BP Plc and Equinor ASA have terminated their power agreement with New York state for a 1.3-gigawatt wind farm in the Atlantic Ocean, blaming changing economic…

4 months ago·Canada

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The Epoch Times

New York Wind Farm Deal Scrapped, but Project Might Not Be Completely Dead

Plans to provide offshore wind power to New York City through the Empire Wind 2 project have been scrapped due to challenging “economic circumstances,” however, a company executive has hinted the project might not be completely dead. A joint venture between Norwegian state-owned multinational energy company Equinor and British multinational oil and gas company BP, Empire Wind 1 and Empire Wind 2 were approved in November last year. Combined, the…

4 months ago·New York, United States

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Bloomberg

BP, Equinor Tear Up Contract for Big New York Offshore Wind Project

BP Plc and Equinor ASA have terminated their power agreement with New York state for a 1.3-gigawatt wind farm in the Atlantic Ocean, blaming changing economic circumstances that made the Empire Wind 2 project unviable.

4 months ago·United States

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