Empire Wind 2 (1,260 MW) + Beacon Wind 1 (1,230 MW) offshore wind — 2.49 GW combined
NYSERDA finalizes 2.49 GW offshore wind PSAs with Empire Offshore Wind (Equinor/bp 50/50 JV) + Beacon Wind. 25-year contracts. Then-largest US offshore wind procurement to date. Subsequently restructured (bp/Equinor swap Jan 2024). Empire Wind 1 reached financial close Jan 2025.
$25
Deal Value
2,490MW
Capacity
Offshore Wind
Technology
NY
Location
Deal Details
- Deal Type
- Power Purchase Agreement
- Seller / Sponsor
- Empire Offshore Wind LLC (Equinor 50% / bp 50%); Beacon Wind LLC
- Buyer / Financier
- NYSERDA (New York State Energy Research and Development Authority)
- Offtaker
- NYSERDA (New York State Energy Research and Development Authority)
- Deal Value
- 25-year PSAs; >$1B economic output to NY pledged
- Stage
- Development
- ISO/RTO
- NYISO
- Source
- Offshorewind.biz
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