Stavanger from Norway – In addition to its oil and gas business, Equinor is increasingly focusing on renewable energies. In the US state of New York, the Norwegian oil and gas company has now been awarded the largest offshore wind energy contract in the US to date.
The strategic goal of Norway’s oil and gas company Equinor is to develop into a major global player in the offshore wind energy sector. Equinor has reached an important milestone with the orders for two new large offshore wind farms in New York. In addition to the production-side expansion of the offshore wind energy capacities, the award for the offshore wind farms also provides for the development of powerful offshore wind industry in the New York ports.
Equinor’s total capacity for offshore wind farms in New York rises to 3,300 MW.
Equinor was selected in one of the largest renewable energy tenders in the United States to date to supply New York State with electricity from offshore wind farms. As part of the contract, Equinor and its new strategic partner BP will implement the two offshore wind farms Empire Wind 2 with an output of 1,260 megawatts (MW) and Beacon Wind 1 with 1,230 MW. Together with the existing obligation to supply New York with wind power from the 816 MW offshore wind farm Empire Wind 1, this results in a total offshore wind energy capacity of 3,300 MW for Equinor in the US state of New York.
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According to Equinor, the award for the projects is still dependent on the successful conclusion of a contract with the New York State Energy Research and Development Authority (NYSERDA).
This stipulates that the companies will work with the US state to build large-scale, high-performance industrial structures in the field of offshore wind energy in the New York ports “South Brooklyn Marine Terminal (SBMT)” and “Port of Albany”. These are intended to make New York a center of the offshore wind industry.
“The US east coast is one of the most attractive growth markets for offshore wind power worldwide. The successful bids for Empire Wind 2 and Beacon Wind 1 represent a turning point for our offshore wind business in the US and underscore the commitment of Equinor, a leader in These projects will also create value through economies of scale and support our strategic goal of becoming a global offshore wind major, “says Equinor CEO Anders Opedal about the project award.
Equinor entered into a strategic partnership with the mineral oil company in the field of offshore wind energy in September 2020 by selling 50 percent of the non-operating stakes in the offshore wind fields “Empire Wind” and “Beacon Wind”. The total price before adjustments is $ 1.1 billion. The aim of the partnership between Equinor and BP is to jointly implement current and future offshore wind energy projects in the USA. This applies to ground-anchored and floating offshore wind farms.
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In addition to the oil and gas business, Equinor is expanding its commitment to renewable energies and operating offshore wind farms in Great Britain and Germany. The company commissioned the world’s first floating offshore wind farm off the coast of Scotland in 2017 and is well-positioned for the future. With the development of the new partnership between Equinor and BP, both companies want to further expand their cooperation in a market for which global growth of 600 to 800 gigawatts (GW) is forecast by 2050.
“These projects will provide New York with indigenous, renewable electricity and will play an important role in the state’s ambitions to become a global offshore wind hub. The US east coast is one of the most attractive growth markets for offshore wind power in the world.
The winning bids for Empire Wind 2 and Beacon Wind 1 mark a turning point for our offshore wind business in the US and underscore Equinor’s commitment to being a leader in the energy transition. These projects will also create value through economies of scale and support our strategic goal to become the global offshore wind major, “said Anders Opedal, CEO of Equinor, after the bid.
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“Together, Equinor and New York State will build a robust offshore wind supply chain capable of large-scale manufacture, assembly, and erection of these projects. As Equinor works to expand its presence in the renewable energy space in the United States and around the world, New York’s leadership clearly demonstrates the transformative benefits of offshore wind for climate goals and economic activity alike.
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