BP has entered the UK offshore wind market with leases for a combined three-gigawatts of projects in the Irish Sea. CEO Bernard Looney said the development would deliver on BP’s requirement for an 8-10% return on its investment “at a minimum”. Teaming up with Energie Baden-Wuerttemberg AG (EnBW) of Germany, BP was selected for the two 60-year leases, around 18miles off north-west England.
Energy Voice 8th Feb 2021 read more »
BP will pay more than £900 million for the option to build two offshore wind farms off Britain after bidding the highest prices in a Crown Estate auction of seabed rights. The oil major and joint venture partner EnBW were revealed as the winning bidders behind two Irish Sea leases at prices that were met with incredulity by established players. RWE, the German energy group, scooped two other leases, and France’s Total partnered with the Green Investment Group for another plot. Along with a sixth smaller lease, the Crown Estate said the seabed plots could support just under 8 gigawatts of new offshore wind capacity, or enough to deliver electricity to more than seven million homes.
Times 8th Feb 2021 read more »
Representatives of Inch Cape, which is building the substation to bring energy onshore from its planned offshore wind farm, told a meeting of Cockenzie and Port Seton Community Council that work was expected to begin later next year or early in 2023.
Edinburgh Evening News 8th Feb 2021 read more »