BP has backed up its high profile pledge to put itself on a trajectory to net zero emissions with the announcement today it is teaming up with rival oil major Equinor to develop a fleet of US offshore wind farm. Marking the company’s first move into the fast-expanding offshore wind market, BP announced today it is to pay Equinor $1.1bn to secure 50 per cent stakes in four planned offshore wind farms located in two existing offshore wind leases off the east coast of America.
Business Green 10th Sept 2020 read more »
BP has made its first foray into offshore wind with a $1.1 billion deal to part-own projects off the United States. The oil major is buying a 50 per cent interest in two leases off New York and Massachusetts, where it plans to build four wind farms with Equinor, of Norway. The wind farms will have a total capacity of 4.4 gigawatts, or enough to power more than two million homes. The companies also have formed a strategic partnership to work together on other opportunities in the fast-growing American offshore wind market and potentially in other countries.
Times 11th Sept 2020 read more »