Saturday, January 16, 2021

Equinor clinches big renewable power contract within the U.S.

Workplaces of power firm Equinor photographed in Norway on February 6, 2019.

Odin Jaeger | Bloomberg | Getty Pictures

Norway’s Equinor has been awarded a serious contract to offer renewable power to New York state from two big offshore wind farms positioned in waters off the East Coast.

In an announcement Wednesday, the agency stated it was the “largest-ever” offshore wind deal that had been awarded within the U.S. — and in addition “one of many largest renewable power procurements within the U.S. up to now.”

Underneath the phrases of the deal, Equinor and its accomplice BP will present New York with renewable power from the Empire Wind 2 and Beacon Wind 1 initiatives.

The 2 corporations will even work with New York to develop the South Brooklyn Marine Terminal and Port of Albany into what Equinor described as “large-scale offshore wind working industrial services.”

Final 12 months, BP agreed to take 50% stakes within the Empire Wind and Beacon Wind initiatives from Equinor, in a deal set to shut within the early a part of 2021.

The Empire Wind 2 and Beacon Wind 1 developments can have a capability of 1,260 and 1,230 megawatts (MW) respectively. The contract introduced on Wednesday will complement one other settlement for power from the 816 MW Empire Wind 1 challenge. Capability refers back to the most quantity that installations can produce, not what they’re presently producing.

When totally completed, Equinor says the general Empire Wind and Beacon Wind initiatives will every be capable of energy over a million houses.

In a press release, Equinor’s CEO Anders Opedal described the East Coast of the US as “probably the most engaging development markets for offshore wind on the earth.”

Whereas it might have potential, the U.S. remains to be a way off matching different components of the world in the case of scale.

The nation’s first offshore wind farm — the 30 MW, five-turbine Block Island Wind Farm, which is operated by Danish firm Orsted — solely began business operations on the finish of 2016.

By comparability, Europe is dwelling to numerous big offshore wind initiatives. Final November, Orsted introduced that the 752 MW Borssele 1 & 2 offshore facility was totally up and operating, claiming it may present sufficient electrical energy to energy 1 million households.

In plans laid out towards the top of final 12 months, the European Union stated it needed its offshore wind capability to hit 300 gigawatts by the center of the century.

Whereas each Equinor and BP try to develop extra renewable power initiatives, they continue to be main gamers within the oil and fuel sector.

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