BP: buys Equinor's stakes in two offshore windfarms
(CercleFinance.com) - Equinor announces that it has reached an agreement with BP to sell it a 50% non-operational interest in the Empire Wind and Beacon Wind assets on the East Coast of the United States, for a total (before adjustments) of 1.
1 billion dollars.
Equinor said that, "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 1 January 2020 and is expected to be completed in early 2021, subject to customary conditions, including purchase price adjustments and regulatory approval.
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