Equinor and BP on Friday announced they have finalized the Purchase and Sale Agreements (PSAs) with New York State Energy Research and Development Authority (NYSERDA) for the Empire Wind 2 and Beacon Wind 1 offshore wind projects.
The PSAs set the terms under which the projects will supply renewable power to New York and inject economic investments into the state’s economy.
Equinor and BP were selected by NYSERDA in January 2021 to develop two large offshore wind farms off New York State, in one of the largest renewable energy procurements in United States history. The finalization of the PSAs concludes the contracts and represents a major milestone and enables the start of project execution for the partnership.
Under the procurement award, Equinor and BP will provide 1.2 MW of power capacity each from the Empire Wind 2 and Beacon Wind 1 projects. Combined with the partnership’s Empire Wind 1 project, the projects will provide a total a 3.3 gigawatts of renewable power to the state, enough to produce electricity for about 2 million New York homes.
The projects are also expected to help generate more than $1 billion in economic output to New York State, and include investments in ports and infrastructure that will reinforce New York’s position as the regional offshore wind industry hub.
Artistic rendering of concept for site development of the South Brooklyn Marine Terminal. Credit: Equinor
The agreement includes transforming South Brooklyn Marine Terminal into a major staging and assembly facility for the offshore wind industry, as well as an operations and maintenance base for the project’s offshore farms. Equinor also recently announced the opening of a New York project office located in Sunset Park, Brooklyn, opposite the South Brooklyn Marine Terminal. The partnership will also invest in the Port of Albany, making it America’s first offshore wind tower and transition piece manufacturing facility.
Artistic rendering of the Port of Albany. (Illustration: McFarland Johnson, Inc)
“Today’s announcement sets Equinor and bp on the path to provide over 3.3 gigawatts (GW) of offshore wind power for New York. It also offers a large-scale, tangible demonstration of the incredible economic activity and carbon reduction potential being driven by New York’s green energy transition,” said Siri Espedal Kindem, President of Equinor Wind US. “We are proud to help lead the growth of this exciting industry in New York.”
Empire Wind will be located 15-30 miles southeast of Long Island and calls for up to 174 wind turbine generators and associated substations and subsea cables. Beacon Wind, located more than 60 miles east of Montauk Point and 20 miles south of Nantucket, is planned to include up to 122 wind turbine generators, subsea cables, and a convertor station. Both projects remain under review by the Bureau of Ocean Energy Management.
“Offshore wind is bringing unprecedented investment to New York State, and we are proud to further cement ourselves as the offshore wind hub of the nation,” said Doreen M. Harris, President and CEO, NYSERDA. “Meeting our nation-leading offshore wind goal of 9,000 megawatts by 2035 will be an essential economic driver for the state, and these projects will help transform our energy system while providing thousands of family-sustaining jobs to bolster our growing green economy.”
Location map for the Empire Wind 1 and 2 and Beacon Wind 1 projects located off New York State. Illustration: Equinor
U.S. Interior Secretary Doug Burgum has ordered an immediate halt to construction on Equinor’s Empire Wind project off the coast of New York, marking a significant development for the U.S....
By Subrat Patnaik Apr 12, 2025 (Bloomberg) –US President Donald Trump’s administration is planning an executive order to allow the stockpiling of critical metals from the Pacific seabed, according to the...
BEIJING, March 31 (Reuters) – China National Offshore Oil Corporation has discovered an oilfield in the eastern South China Sea with proven reserves exceeding 100 million tonnes, a report in China’s official Xinhua news agency said...
March 30, 2025
Total Views: 19020
Get The Industry’s Go-To News
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
— just like 109,210 professionals
Secure Your Spot
on the gCaptain Crew
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
— trusted by our 109,210 members
Your Gateway to the Maritime World!
Essential news coupled with the finest maritime content sourced from across the globe.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.