BP, EnBW Bid for Scottish Offshore Wind Lease, Promising Billions in Investment
July 19 2021 - 5:18AM
Dow Jones News
By Adria Calatayud
BP PLC said Monday that it and partner EnBW Energie
Baden-Wuerttemberg AG have submitted a bid for a lease area off the
east coast of Scotland that could support offshore wind projects
with capacity to generate 2.9 gigawatts.
BP said a successful bid would bring multi-billion pound
investment into Scottish offshore wind projects. The company said
its bid seeks to accelerate Scotland's energy transition, and that
it would invest in green-hydrogen production and accelerating the
expansion of the electric-vehicle charging network.
Applications for the ScotWind leasing round, the first round of
offshore-wind leasing in Scottish waters for a decade, closed last
Friday and a period of evaluation of the bids will follow.
The BP-EnBW partnership was named as the preferred bidder for
two 60-year leases in the Irish Sea in a U.K. offshore-wind leasing
round in February, marking BP's entry to the British offshore-wind
sector with a record bid.
BP executives have since defended that investment against
accusations of overpaying for the leases, arguing the location is
superior to other offshore wind projects.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 19, 2021 05:06 ET (09:06 GMT)
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