Equinor and BP have submitted a revised bid for their jointly-owned 810-megawatt (MW) Empire Wind 1 project in New York's fourth offshore wind solicitation. If successful, the project is anticipated to commence power generation in 2026.
This bid into the offshore wind solicitation follows the recent announcement of a swap transaction between Equinor and BP. In this transaction, pending certain conditions and regulatory approval, Equinor will assume full ownership of the Empire Wind lease and associated projects.
This includes the South Brooklyn Marine Terminal (SBMT), slated for development into a hub for New York's offshore wind sector, with construction expected to commence in the first half of this year.
In exchange, BP will assume full ownership of Beacon Wind and its assets. Molly Morris, President of Equinor Renewables Americas, expressed readiness for the Empire Wind 1 project, stating, “Empire Wind 1 is ready and so is Equinor. New York has demonstrated its commitment to offshore wind, and this project will play a foundational role in driving that commitment forward. Empire Wind 1 puts New York City at the heart of this new industry, and the economic and environmental benefits will extend throughout the state. We continue to engage closely with our key stakeholders, including community partners, union labor, and environmental organizations, and are grateful for the support the project is receiving.”