K2 Management delivered acquisition due diligence services in support of bp’s first step into the offshore wind market – a 50% stake in Equinor’s Empire Wind and Beacon Wind assets.
The full technical due diligence assignment saw K2 Management evaluate all technical aspects of the projects, including project design and technology, construction costs, energy yield and operations strategy.
The Empire Wind lease area will be developed in two phases, the first of which secured an offtake agreement in New York’s first large-scale competitive offshore wind solicitation in 2019.
Beacon Wind is situated off the coast of southern New England. The lease areas have a potential installed capacity of 2GW and 2.4GW, respectively.
