Equinor (EQNR) Takes 100% Ownership in Empire Wind Swap With BP
Equinor(EQNR) Zacks Investment Research·2024-01-30 21:51
Equinor ASA, (EQNR) the Norwegian state-owned energy giant, announced a swap transaction with BP plc (BP) , leading to Equinor's full ownership of the Empire Wind lease and projects in the United States.Per the terms of the agreement, Equinor will gain 100% ownership of Empire Offshore Wind Holdings LLC and BP's 50% share of the South Brooklyn Marine Terminal lease. In return, BP will take over Beacon Wind Holdings LLC and become the operator of the Beacon Wind projects. The transaction is designed to be ca ...