"BP and Equinor's Offshore Wind Split Signals Financial Reckoning for New York Industry"

Offshore wind developers, including Equinor and BP, submitted revised bids to supply power to New York state as construction costs soar, leading to industry turmoil and project cancellations. Equinor and BP have split their joint projects, with Equinor taking full ownership of the Empire Wind project and submitting a bid for it, while BP's plans for the Beacon Wind project remain unspecified. Orsted also submitted a bid for the Sunrise Wind project and plans to acquire its partner Eversource's stake if successful. The New York state is expected to announce the winners of the solicitation in February.