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Press Release: Equinor partners with BP in US offshore wind to capture value and create platform for growth
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Press Release: Equinor partners with BP in US offshore wind to capture value and create platform for growth
Business
Date posted: 10.09.2020
Category: Business News
Equinor (OSE: EQNR, NYSE: EQNR) has entered into an agreement with BP (LSE: BP, NYSE: BP) to sell 50% non-operated interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration before adjustments of USD 1.1 billion. Through this transaction, the two companies are also establishing a strategic partnership for further growth within offshore wind in the US.
Currently Equinor holds a 100% interest in both the Empire Wind lease, located off the coast of New York State, and the Beacon Wind lease, located off the Massachusetts coast. The transaction is in line with Equinor’s renewable strategy to access attractive acreage early and at scale, mature projects, and capture value by de-risking high equity ownership positions.
Source: Equinor
Published: September 10, 2020