Equinor, a major player in the renewable energy sector, has secured the winning bid for an 816 MW offshore wind project in New York. The project, valued at approximately $3 billion, will bring renewable energy to consumers in New York and make a significant contribution to the state’s renewable energy development goals.
Equinor’s successful bid reaffirms its commitment to meeting New York State’s renewable energy and climate targets, including the goal of achieving 9,000 MW of offshore wind capacity by 2035. This achievement also represents a significant milestone in Equinor’s ambition of establishing an offshore wind core area on the U.S. East Coast.
The offshore wind project is expected to feature 60-80 wind turbines, each with an installed capacity of over 10 MW. Once operational, it will have the capability to power more than 500,000 homes in New York, with an anticipated start-up date in late 2024.
Christer af Geijerstam, President of Equinor Wind US, expressed his confidence in Equinor’s ability to develop large offshore energy projects and deliver affordable renewable energy, while also generating substantial economic benefits for local communities. He looks forward to collaborating with partners throughout New York State to advance this project.
Empire Wind, the 80,000-acre lease area secured by Equinor in the New York Bight two years ago, played a pivotal role in the company’s selection process. Equinor has been chosen to engage in negotiations for a long-term contract with the New York State Energy Research and Development Authority (NYSERDA) for offshore wind renewable energy certificates (ORECs). The finalization of the award is contingent upon the execution of the OREC purchase and sale agreement, which Equinor is eager to conclude with NYSERDA.
Pål Eitrheim, executive vice president for Equinor New Energy Solutions, expressed his pride in being awarded this significant wind project offshore New York. Empire Wind marks a breakthrough for Equinor’s global offshore wind aspirations and is a momentous step forward in the company’s evolution as an expansive energy enterprise. Equinor has demonstrated its ability to succeed amidst fierce competition, with Empire Wind being their first wind project outside of Europe. The project becomes the largest wind farm in their portfolio under contract so far. Eitrheim emphasized Equinor’s dedication to working closely with local authorities, communities, and U.S. industry partners for the development of Empire Wind.
Equinor’s Empire Wind project not only promises to bring renewable energy to New York City but also offers opportunities for statewide economic growth. It is estimated that around 800 local jobs will be created during the construction and operational phases of the project, including the production of turbine foundations in New York’s Capital Region. Furthermore, Equinor is committed to establishing the nation’s first offshore wind supply chain, facilitating the construction, installation, and operation of offshore wind projects.
To support future offshore wind initiatives and bolster New York’s position as a prominent offshore wind hub, Equinor will invest more than $60 million in port upgrades within New York. The company will also allocate a minimum of $4.5 million to community benefits and workforce development, aligning with the objectives of New York’s National Offshore Wind Training Institute and Community and Workforce Benefits Fund.
NYSERDA President and CEO, Alicia Barton, commended the significant commitment made by Governor Cuomo and New York State in offshore wind, reinforcing the state’s position as a leader in clean energy and climate action. Empire Wind’s development is poised to bring substantial economic and environmental advantages to New York, solidify its status as the offshore wind hub of the Northeast, and provide impetus for achieving ambitious climate and energy targets.
In conclusion, Equinor’s successful bid for an 816 MW offshore wind project in New York is a major milestone in the advancement of renewable energy in the state. The project’s development will not only provide clean and affordable energy to consumers but also drive economic growth and strengthen New York’s position in the offshore wind industry. Equinor’s commitment to local partnerships, job creation, and investment in the offshore wind supply chain underscores its dedication to sustainable energy solutions. With projects like Empire Wind, New York is making significant strides towards a greener and more sustainable future.
