NY - New York’s Latest Clean Energy Push Includes 2.5GW of Offshore Wind Contracts for Equinor and BP
The largest U.S. offshore wind contract to date is a centerpiece of Gov. Cuomo’s new call for expanded clean energy investment.
The state of New York has awarded 2.5 gigawatts of offshore wind projects to developers Equinor and BP, the largest yet in the state’s massive offshore wind build-out and one of the single largest U.S. renewable energy contracts yet awarded.
Wednesday’s award, announced by New York Gov. Andrew Cuomo during his 2021 State of the State address, hands the entirety of New York’s second large-scale solicitation to the two European oil majors that have joined forces in targeting the emerging Eastern U.S. offshore wind opportunity.
The projects, which add up to $8.9 billion in investment, include 1,230 MW from the Beacon Wind 1 project off the Massachusetts coast and 1,260 megawatts from the Empire Wind 2 project, an expansion of the 816 MW Empire Wind 1 project Equinor is already building off the Long Island coast under the state’s first solicitation, held in 2019.
The awards, which still must be finalized in a purchase and sale agreement with the New York State Energy Research and Development Authority, bring Equinor’s total offshore wind plans for the state to 3.3 gigawatts. That’s more than one-third of the 9 gigawatts of offshore wind by 2035 that New York is targeting, the highest yet announced in a region that’s seeing multiple states jostling for the leadership role.