Norway’s Equinor clinches one of the largest ever renewable energy contracts in the U.S.

SectorOil & Gas

Offices of energy company Equinor photographed in Norway on February 6, 2019.Odin Jaeger | Bloomberg | Getty ImagesNorway's Equinor has been awarded a major contract to provide renewable energy to New York state from two huge offshore wind farms located in waters off the East Coast.In an announcement Wednesday, the firm said it was the "largest-ever" offshore wind deal that had been awarded in the U.S. — and also "one of the largest renewable energy procurements in the U.S. to date."Under the terms of the deal, Equinor and its partner BP will provide New York with renewable energy from the Empire Wind 2 and Beacon Wind 1 projects.The two firms will also work with New York to develop the South Brooklyn Marine Terminal and Port of Albany into what Equinor described as "large-scale offshore wind working industrial facilities."Last year, BP agreed to take 50% stakes in the Empire Wind and Beacon Wind projects from Equinor, in a deal set to close in the early part of 2021.The Empire Wind 2 and Beacon Wind 1 developments will have a capacity of 1,260 and 1,230 megawatts (MW) respectively. The contract announced on Wednesday will supplement another agreement for energy from the 816 more...