BP, EnBW Partnership Named Preferred Bidder for Two Leases in UK Offshore Wind Round
By Adria Calatayud
BP PLC said Monday that it and partner EnBW Energie
Baden-Wuerttemberg AG of Germany have together been selected as
preferred bidder for two major 60-year leases in the first U.K.
offshore-wind leasing round since 2010.
The U.K. energy giant said it and EnBW plan to form a 50-50
joint venture to develop and operate the leases, with four annual
payments of 231 million pounds ($317.3 million) on each lease
expected before projects reach final investment decision.
Both leases are located in the Irish Sea and offer a combined
potential generating capacity of three gigawatts, BP said. The
projects are expected to be in operation in seven years, and their
generating capacity would then be sufficient to power more than 3.4
million households, BP said.
This marks BP's entry to the U.K.'s offshore wind power sector,
the company said.
Write to Adria Calatayud at email@example.com
(END) Dow Jones Newswires
February 08, 2021 02:45 ET (07:45 GMT)
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