BP buys into U.S. offshore wind market, inks $1.1 billion deal with Equinor

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Equinor ASA has agreed to sell a 50% stake in two offshore wind farms to BP PLC, establishing a strategic partnership to further develop similar projects in the U.S.The Norwegian state-owned energy company will sell the nonoperated stake in the 2-GW Empire Wind, located off the coast of New York State, and in the 2.4-GW Beacon Wind, located off the coast of Massachusetts, for a total consideration before adjustments of $1.1 billion, according to a Sept. 10 news release.Equinor currently holds 100% interest in both leases and will remain project operator through the development, construction and operations phases. BP’s acquisition of interests in the wind projects is effective Jan. 1. The deal is anticipated to close in early 2021.“Optimizing equity and bringing in new partners allow us to realize value, increasing our financial flexibility to fund further growth,” said Pål Eitrheim, executive vice president for new energy solutions in Equinor.Both companies hope to expand this cooperation further by considering future joint opportunities in the U.S. for bottom-fixed and floating offshore wind.Equinor aims to grow its renewable energy capacity to 4 GW to 6 GW by 2026 and 12 GW to 16 GW by 2035, and recently announced its expectation to accelerate these ambitions. BP is also looking to increase annual low carbon investment to around $5 billion a year by 2030. As part of its new strategy, the company plans to increase its developed renewable generating capacity from 2.5 GW in 2019 to around 50 GW by 2030.[Maryam Adeeb]More ($): BP marks entry in US offshore wind with $1.1B deal, partnership with Equinor BP buys into U.S. offshore wind market, inks $1.1 billion deal with Equinorlast_img read more

LeBron James will not travel for Lakers’ two-game trip, but cleared to practice next week

first_img Newsroom GuidelinesNews TipsContact UsReport an Error Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed But it puts the Lakers in a tough spot with games against the third- and fourth-place teams in the Western Conference, respectively: The team has just gone 4-7 in the stretch without James, hanging on in a tie for eighth place in the standings. Only one of their four wins (at home against the Sacramento Kings) has been against a team with a winning record, and they’ve already lost to the Thunder at home without James.“That’s a tough stretch for anybody in the league,” Lonzo Ball said on Tuesday, following the Lakers’ win over the Chicago Bulls. “But can’t make no excuses, it’s the NBA but it’s good to have those three teams, gotta go in and try to win every one of them.”James (27.3 ppg, 8.3 rpg, 7.1 apg) hasn’t played since Christmas, when he was injured against the Warriors. Since he’s not joining the Lakers for either of the next two games, the earliest he could return is the team’s Martin Luther King Day rematch with Golden State on Monday at Staples Center. But if he isn’t able to return that soon, the home-heavy schedule against Minnesota, Phoenix, Philadelphia and a “road game” against the Clippers would give the Lakers a chance to integrate James in practices in Los Angeles.The 34-year-old forward has never missed more than 13 games in any season of his 16-year career, when he missed that many during 2014-15 with the Cleveland Cavaliers. Lakers, Clippers schedules set for first round of NBA playoffs AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersRelated Articles Lakers practice early hoping to answer all questions How athletes protesting the national anthem has evolved over 17 years Even before a scheduled medical evaluation on Wednesday, the Lakers knew that LeBron James would not join them on their upcoming two-game trip.An ESPN report early late Tuesday night indicated that James would not travel for games at Oklahoma City (Thursday) and Houston (Saturday), citing information from his agent Rich Paul. That was later affirmed by the Lakers, who said James was cleared in his evaluation to begin practices next week after the Lakers return Sunday for a stretch of five games in a row at Staples Center.The plan would extend the Lakers star’s absence to 13 games with his strained left groin. Several reports, including from ESPN and The Athletic, have indicated James is willing to take as much time as needed to heal.It’s not a shock, given that James has just recently returned to shooting and passing in half-court scenarios with the team. Before Wednesday, he had not been cleared for more taxing work, and groin injuries are notoriously prone to reinjury and are sometimes slow to heal.last_img read more