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鈥攁nd a leading example of economic activity fueled by the energy transition.
"Today鈥檚 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鈥痮n the path to鈥痯rovide over 3.3 gigawatts (GW) of offshore wind power for鈥疦ew York while offering a large-scale,鈥痶angible demonstration of the incredible economic activity鈥痑nd carbon reduction鈥痯otential being driven by New York鈥檚 green鈥痚nergy transition, according to Siri Espedal Kindem, president of Equinor Wind US.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr