Published by Global Banking & Finance Review®
Posted on January 2, 2025
1 min readLast updated: January 27, 2026
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Equinor has secured over $3 billion for its Empire Wind 1 project, set to power 500,000 New York homes by 2027. The total investment is expected to reach $5 billion.
COPENHAGEN (Reuters) - Norway's Equinor said on Thursday it had secured a financing package of more than $3 billion for its Empire Wind 1 offshore wind power project in the United States.
The company expects the total capital investments, including fees for the use of the South Brooklyn Marine Terminal, to be around $5 billion, including the effect of future tax credits, it said in a statement.
Equinor intends to farm down in the Empire Wind 1 project to a new partner to further enhance value and reduce exposure, it added.
Empire Wind 1 will power 500,000 New York homes and is expected to reach its commercial operation date in 2027, according to Equinor.
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
The main topic is Equinor securing financing for the Empire Wind 1 project in the U.S.
Empire Wind 1 is an offshore wind power project by Equinor, expected to power 500,000 New York homes.
Empire Wind 1 is expected to reach its commercial operation date in 2027.
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