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WindAction | BP backs away from US offshore wind

BP said Tuesday it wrote down the value of its U.S. offshore wind business by $1.1 billion last year, cementing a strategic shift for the British petroleum giant as it increases oil and gas production while recalibrating its efforts to generate clean electricity from ocean turbines. The announcement follows BP’s split last month with Equinor ...BP sold its stake in two projects — Empire Wind 1 and 2 — and gained ownership of the Beacon Wind project in the breakup. B...
New York United States United Kingdom Murray Auchincloss Empire Wind Beacon Wind

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WindAction | Eversource sells stake in LI project as offshore wind faces new setbacks

The $2 billion South Fork Wind farm, a 132-megawatt project expected to be completed in coming weeks or months, began sending a portion of its energy to Long Island’s South Fork in December. Eversource had developed South Fork with Orsted of Denmark. Under terms of the deal, Eversource will offload its 50% interest in South Fork Wind and Revolution Wind, a New England project, for $1.1 billion in cash.
United States New York Long Island New Jersey Kathryn Niforos Doug Perkins

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