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Equinor's Empire Wind 1 offshore project gets New York construction approval
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Equinor's Empire Wind 1 offshore project gets New York construction approval
May 16, 2024 1:59 PM

May 16 (Reuters) - Norwegian energy company Equinor ( EQNR )

has received approval from the New York State Public

Service Commission to start building its Empire Wind 1 offshore

wind farm, Governor Kathy Hochul said on Thursday.

Electricity generated from offshore wind farms is important

to U.S. and state goals of cutting greenhouse gas emissions.

But the industry has been hit this year by inflation, higher

interest rates and supply chain delays. In January, Equinor ( EQNR ) and

BP terminated their agreement to sell power to New York

state from their proposed Empire Wind 2 offshore wind farm.

The 810-megawatt (MW) Empire Wind 1 project will contribute

to the state's goal of developing 9,000 MW of offshore wind

power by 2035, Hochul said in a statement. Empire Wind 1 will

connect into the transmission system for New York City.

The approval is the last one Equinor ( EQNR ) required for

construction to begin. In March, Equinor ( EQNR ) said it had received

approval from the Federal Energy Regulatory Commission.

The wind farm is scheduled to start producing power in 2026.

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