Equinor bids in New York's offshore wind tender

Norway’s Equinor ASA (NYSE:EQNR) is taking part in an offshore wind competition in New York state that targets up to 2.5 GW of capacity.

The Norwegian energy major said on Tuesday it has lodged bids with the New York State Energy Research and Development Authority (NYSERDA) for the Empire Wind Phase 2 and the Beacon Wind projects on the US east coast. The first one, located 15-30 miles southeast of Long Island is part of the Empire Wind scheme that offers a potential total installed capacity of over 2 GW. Its first 816-MW Empire Wind Phase 1 was selected in New York State’s first offshore wind solicitation last year.

The Beacon Wind site, meanwhile, is located 60 miles east of Montauk Point, and is capable of accommodating more than 2.4 GW of turbines.

New York opened a tender to procure up to 2.5 GW of offshore wind in July, including a competitive opportunity for investment in port infrastructure. The solicitation supports the state's goals to secure 70% of its overall electricity from renewable energy by 2030 and add at least 9 GW of offshore wind by 2035. The winners may be known by the end of 2020.

Equinor’s two proposals include plans for manufacturing offshore wind components locally, at the Port of Coeymans and the Port of Albany. The South Brooklyn Marine Terminal will be used for construction activities and as an operations and maintenance (O&M) base.

In September, Equinor agreed to offload a 50% stake in Empire Wind and Beacon Wind to BP Plc (LON:BP), thus making the oil and gas major a non-operating partner in the portfolio. The deal is seen to be finalised at the start of 2021.

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