COPENHAGEN – On Thursday, Equinor (NYSE: EQNR) said it had secured a financing package of more than $3 billion for its Empire Wind 1 offshore wind power project in the United States.
In a statement, the company said that it expects total capital investments, including fees for the use of the South Brooklyn Marine Terminal, to be around $5 billion, factoring in the effect of future tax credits.
Equinor intends to farm down in the Empire Wind 1 project to a new partner to further enhance value and reduce exposure, it added.
Equinor expects Empire Wind 1 to power 500,000 New York homes and reach its commercial operation date in 2027.
