BP PLC and Equinor have formed a strategic partnership to develop offshore wind projects in the United States.
As part of the deal, BP will buy a 50 percent interest in two of Equinor’s U.S. wind assets — the Empire Wind and Beacon — for $1.1 billion.
The collaboration includes the development of existing offshore wind leases on the U.S. East Coast, as well as the joint pursuance of further opportunities for offshore wind projects in the United States. The deal is expected to close in early 2021, subject to customary regulatory and other approvals.
