BP and Equinor bid for more UK offshore wind rights ahead of 2030 targets

Quantum Commodity Intelligence - Energy majors Equinor and BP have submitted bids for offshore wind seabed leasing in the UK's latest 'ScotWind' leasing round, the companies said Monday, as they press ahead with ambitious goals for renewable generation by 2030.

BP has partnered with German energy supply company EnBW to bid for seabed off the coast of Scotland capable of supporting 2.9 GW of generating capacity, while Norway's Equinor did not disclose the amount.

BP aims to develop 20 GW of renewable generating capacity worldwide by 2025 and 50 GW by 2030, although it does not state whether the target represents its own share or the total for participated projects.

Meanwhile, Equinor is aiming to operate shares of projects worth between 12 GW and 16 GW by 2030.

The two companies currently operate around 3.3 GW and 0.458 GW of wind power respectively and have numerous projects in the pipeline worldwide.

BP and EnBW entered a 50-50 joint venture earlier this year for 3 GW of capacity in the Irish Sea and BP is also in partnership with Equinor to develop 4.4 GW of capacity in the US.

Equinor is also a partner in the world's biggest offshore wind farm, Dogger Bank, which is under construction and will provide 3.6GW, of which Equinor will hold a 1.56 GW share.