Equinor has announced the execution of the purchase and sale agreement with the New York State Energy Research and Development Authority (NYSERDA) for the renewable power generated by the 810MW Empire Wind 1 offshore wind project.
This agreement follows NYSERDA’s announcement that Equinor had been selected as a conditional winner in New York’s fourth offshore wind solicitation with a strike price of $155.00 per MWh. Onshore construction activity is under way at the South Brooklyn Marine Terminal. Empire Wind 1 will be America’s first offshore wind project to plug directly into the New York City grid, with a target to deliver first power in late 2026. Following a final investment decision, Equinor plans to use project financing, with financial close anticipated by the end of 2024. Equinor intends to bring in a partner to reduce financial exposure.
