Equinor and bp finalized the Purchase and Sale Agreements (PSAs) with the New York State Energy Research and Development Authority (NYSERDA), for Empire Wind 2 and Beacon Wind 1 offshore wind projects, companies announced on Friday.
The PSAs set the terms under which Empire Wind 2 will deliver 1,260 MW of renewable offshore wind power and Beacon Wind 1 will provide 1,230 MW of renewable offshore wind power while investing in New York's infrastructure.
Equinor and bp's current offshore wind project portfolio including Empire Wind 1, Empire Wind 2, and Beacon Wind 1, will generate enough electricity to power about 2 million New York homes and generate more than $1 billion in economic activity for the city once finished.
This includes port and infrastructure investments that will strengthen New York's position as the regional offshore wind industry hub—and a leading example of economic activity fueled by the energy transition.
'Today’s milestone is a critical step forward and we will continue to work hard to deliver the Empire Wind and Beacon Wind projects, providing clean energy and stable returns for decades to come,' Felipe Arbelaez, bp's senior vice president for zero carbon energy, was quoted as saying in the statement.
The deal sets Equinor and bp on the path to provide over 3.3 gigawatts (GW) of offshore wind power for New York while offering a large-scale, tangible demonstration of the incredible economic activity and carbon reduction potential being driven by New York’s green energy transition, according to Siri Espedal Kindem, president of Equinor Wind US.
By Sibel Morrow