BP, Equinor Tear Up Contract for Big New York Offshore Wind Project
- Move is latest blow to struggling US offshore wind industry
- Developers seeking new offtake opportunities for Empire Wind 2
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BP Plc and Equinor ASA have terminated their power agreement with New York state for a 1.3-gigawatt wind farm in the Atlantic Ocean, blaming changing economic circumstances that made the Empire Wind 2 project unviable.
The companies said they plan to seek new offtake opportunities, according to a statement Wednesday. BP and Equinor were among a group of developers that were rebuffed in October after asking state regulators for higher rates to deliver power from offshore wind farms.