Energy major BP is spending $1.1 billion to acquire a 50 percent ownership with Norway-based offshore wind developer Equinor in its two Northeast U.S. waters projects, for what the companies call “a strategic partnership for future growth.”
The deal commits BP and Equinor to share in developing the Empire Wind lease area outside the New York Harbor approaches, and the Beacon Wind lease located south of Massachusetts.
Equinor acquired one of the earliest U.S. East Coast wind power leases in 2017...