Wind Energy – Reset Empire Wind 2
Equinor and bp today announced an agreement with the New York State Energy Research and Development Authority to terminate the Offshore Wind Renewable Energy Certificate Agreement for the Empire Wind 2 project.
This agreement reflects changed economic circumstances on an industry-wide scale and repositions an already mature project to continue development in anticipation of new offtake opportunities.
The decision recognizes commercial conditions driven by inflation, interest rates and supply chain disruptions that prevented Empire Wind 2’s existing OREC agreement from being viable.
Equinor and bp believe offshore wind can be an important part of the energy mix and are committed to maintaining substantial contributions to the state and local economy.
“Commercial viability is fundamental for ambitious projects of this size and scale. The Empire Wind 2 decision provides the opportunity to reset and develop a stronger and more robust project going forward,” said Molly Morris, president of Equinor Renewables Americas. “We will continue to closely engage our many community partners across the state. As evidenced by the progress at the South Brooklyn Marine Terminal, our offshore wind activity is ready to generate union jobs and significant economic activity in New York.”
The Dutch company Sif was contracted by Empire Offshore Wind to manufacture 54 monopiles and transition pieces for Empire Wind part 1 and 84 monopiles for Empire Wind part 2. Sif was also in exclusive negotiations with Empire Offshore Wind for the manufacture of 84 transition pieces for Empire Wind part 2.