Empire Wind 2 — 1,260 MW offshore wind, OCS-A 0512 lease area, off Long Island, New York
Equinor and bp mutually agreed with NYSERDA to terminate the Empire Wind 2 OREC contract. Allowed parties to seek new offtake at higher prices given inflation/supply chain issues. Major signal of offshore wind market stress in 2024. Substation EPC contract worth $250M cancelled. Empire Wind 1 (810 MW) continued separately with FID late 2024.
$250M
Deal Value
1,260MW
Capacity
Offshore Wind
Technology
NY
Location
Deal Details
- Deal Type
- Power Purchase & Offtake
- Seller / Sponsor
- Equinor + bp (Empire Wind partners)
- Buyer / Financier
- NYSERDA (terminated)
- Offtaker
- NYSERDA (terminated)
- Deal Value
- $250M EPC contract terminated
- Stage
- Cancelled
- ISO/RTO
- NYISO
- Source
- Utility Dive
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