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bp Bags 4GW Offshore Wind Project in German Auction Round

The two North Sea sites, situated 130km and 150km offshore in water depths of around 40m, have an overall potential generating capacity of 4GW.

July 14, 2023. By EI News Network

Renewable power from offshore wind will assist bp’s green hydrogen and biofuels production, electric mobility growth and refinery decarbonization, along with broader industry decarbonization in Germany.

bp has secured the rights to construct two offshore wind projects in the German auction round, foraying into offshore wind in continental Europe.

The two North Sea sites, situated 130km and 150km offshore in water depths of around 40m, have an overall potential generating capacity of 4GW.

bp will lead the development, construction and operations of these fixed-bottom offshore wind projects, with grid connection aimed by the end of 2030.

bp’s global offshore wind pipeline now totals up to 9.2GW net to bp.

Anja-Isabel Dotzenrath, bp’s Executive Vice President, Gas & Low Carbon Energy, stated, “These awards are a huge milestone for bp’s decarbonization plans in Germany and are a strong reflection of our wider strategy. The renewable power we aim to produce will anchor the significant demand we expect for green electrons for our German operations, from a whole host of products and services including green hydrogen and biofuels production, electric mobility growth and refinery decarbonization.”

Initial payments totalling Euro 678 million equal to 10 percent of the tender amount, will be paid by July 2024. The remaining 90% will be paid over 20 years when the projects become operational in the subsequent decade.

bp’s head of country, Patrick Wendeler, added: “We are investing massively in Germany’s energy transition and in our own – from renewable power generation to having an impact on the decarbonization of road transport to the decarbonization of our refineries. Our major existing businesses here are transforming – powered by green hydrogen, biofuels and offshore wind. And today’s win accelerates the pace of change as we look to do more. We look forward to the important role we can play in contributing to Germany’s energy transition and its efforts to become climate neutral in 2045.”

The latest tender supports Germany’s target of installing 30GW of offshore wind projects by 2030, about 40GW by 2035 and around 70GW by 2045.

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