Equinor Agrees With BP To Sell 50% Non-operated Interests In Empire Wind, Beacon Wind Assets

(RTTNews) - Equinor (EQNR) announced that it has agreed with BP (BP, BP.L) to sell 50% non-operated interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration before adjustments of US$1.1 billion.

Through this transaction, the two companies are also establishing a strategic partnership for further growth within offshore wind in the US.

BP's acquisition of the interests in Empire Wind and Beacon Wind has an effective date of January 1, 2020 and is expected to close in early 2021, subject to customary conditions including purchase price adjustments and authority approval.