In January 2024, bp and Equinor announced an agreement to restructure the ownership of their joint US offshore wind projects. The transactions related to Empire Offshore Wind Holdings LLC, Beacon Wind Holdings LLC and the associated project company that holds the Astoria Gateway for Renewable Energy site, closed April 4, 2024 after receiving the necessary regulatory approvals. Subject to certain conditions, Equinor will also take over bp’s 50% share of the South Brooklyn Marine Terminal (SBMT) lease.
The agreement results in bp taking full ownership of the Beacon Wind 1 and 2 projects located in federal waters between Cape Cod, Massachusetts, and Long Island, New York.
bp's commitment to the US goes well beyond providing the energy and jobs that fuel economic prosperity. We also support a wide range of institutions and initiatives that strength the communities where our employees live and work. As part of this support, bp and the bp foundation together have donated more than $90 million to community programs over the last five years.
We seek to minimize Beacon Wind’s impact on the environment by collaborating with conservation and preservation groups, fisheries, front-line and tribal communities, and others. We are committed to best practices to mitigate environmental and social impacts from the development of renewable energy in the Beacon Wind lease area. We believe in the cooperative coexistence of offshore wind development with wildlife.
The offshore wind industry adheres to stringent marine mammal mitigation measures – stronger regulation than any other marine industry in the Atlantic.
There is no construction occurring yet in the Beacon Wind lease area.
*Turbine footage is illustrative only – bp offshore wind projects are in the early stages of development
For questions or more information, please email beaconwind@bp.com.
Visit the Offshore wind supplier collaboration hub to learn about working with Beacon Wind.