Oil giant BP enters offshore wind market in US$1b deal | Malay Mail

📆 2020/09/12 5:50:00
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LONDON, Sept 11 ― British energy major BP, aiming to achieve net zero carbon emissions by 2050, yesterday entered the offshore wind market in a US tie-up with Norwegian peer Equinor. Under the deal, BP will pay Equinor €$1.1 billion (RM5.41 billion) for interests in wind developments off the...

Under the deal, BP will pay Equinor €$1.1 billion for interests in wind developments off the coasts of New York and Massachusetts, while pursuing other US projects together. — Reuters pic

“This includes the development of existing offshore wind leases on the US East coast and jointly pursuing further opportunities for offshore wind in the US.” “Offshore wind is growing at around 20 per cent a year globally and is recognised as being a core part of meeting the world's need to limit emissions.

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