Big Oil transitions to Big Wind

The Crown Estate announced the results of its Round 4 seabed leasing for offshore wind in the UK. The Offshore Wind Lease Round 4 allocated areas for developing nearly 8GW of capacity, in the UK’s first offshore round in a decade. Preferred bidders were named for six projects, which should help the UK towards its target of 40GW of offshore wind capacity by 2030, over four times the current total of 9,792MW (according to IRENA data). Both BP and Total were successful, further consolidating the role that Big Oil is set to play in the future of offshore wind. Following a recent tie-up with Equinor in the US east coast, BP has teamed up with EnBW, an established offshore player, in a 50/50 JV

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