Equinor Secures $3-Billion Financing for U.S. Offshore Wind Project

Equinor has secured a project financing package of over $3 billion for its U.S. offshore wind project Empire Wind 1, Norway’s energy major said on Thursday. Empire Wind 1 is planned to power 500,000 New York homes and is expected to reach its commercial operation date in 2027. With a contracted capacity of 810 megawatts (MW), Empire Wind 1 will be the first offshore wind project to connect into the New York City grid. Equinor expects the total capital investments in the project, including fees for the use of the South Brooklyn Marine Terminal…