Equinor and BP have finalised the Purchase and Sale Agreements (PSAs) with the New York State Energy Research and Development Authority (NYSERDA) for their Empire Wind 2 and Beacon Wind 1 projects, after being selected in the state’s offshore wind power solicitation in January 2021.
The finalisation of the agreements was announced at an event with the US Secretary of Energy Jennifer Granholm, New York Governor Kathy Hochul, and US Representative Paul Tonko on 14 January.
A year ago, NYSERDA selected the partnership of Equinor and BP as the winner of the state’s second offshore wind solicitation, with the execution of the procurement award being subject to the successful negotiation of PSAs.
The PSAs finalise the terms under which the developers will provide generation capacity of 1,260 MW of renewable offshore wind power from Empire Wind 2, and another 1,230 MW of power from Beacon Wind 1, while making substantial investments in New York’s infrastructure.
The projects include port upgrades to transform South Brooklyn Marine Terminal into a major staging and assembly facility for the industry, as well as an operations and maintenance (O&M) base for the projects. The partnership will also invest in the Port of Albany, making it the first US offshore wind tower and transition piece manufacturing facility.