BP efforts to scale back renewables won't affect JV with EnBW

EnBW Energie Baden Wuerttemberg AG

12/11/2024 13:21

FRANKFURT, Nov 12 (Reuters) - Current efforts by BP
 BP.L  to scale back its renewables activities have no impact on
an offshore wind joint venture the oil major has with EnBW
 EBKG.DE , the German utility's finance chief told analysts on
Tuesday.
    Both companies formed a 50:50 partnership in 2021 to jointly
develop offshore wind projects in Britain, where they hold
agreements for lease on two 60-year leases in the Irish Sea as
well as an option agreement for another lease in the North Sea.
    The three projects, dubbed Morven, Morgan and Mona, cover
potential generation capacity of 5.9 gigawatts, enough to power
around 6 million UK households.

 (Reporting by Christoph Steitz, Editing by Friederike Heine)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))