1 of 2 | British energy company BP said that it secured the rights to develop wind farms at two sites off the German coast, marking its debut in the European Union's offshore wind energy market. Photo courtesy of BP
July 12 (UPI) -- British energy company BP said Wednesday it secured rights to develop wind farms off the coast of Germany that could churn out as much as four gigawatts of clean energy.
BP said the two sites in the North Sea mark its debut in the offshore wind market in the European Union. The sites are situated about 90 miles off the German coast.
"These awards are a huge milestone for BP's decarbonization plans in Germany and are a strong reflection of our wider strategy," said Anja-Isabel Dotzenrath, a vice president in charge of gas and low-carbon energy.
The German government increased its target this year for offshore wind energy capacity from 20 gigawatts to 30 GW by 2030, with eyes set on 70 GW by 2045.
Germany's climate ambitions are paying off, with data from the International Energy Agency showing total emissions of carbon dioxide are down 37% from a 1990 baseline.
BP said Wednesday it would lead everything from construction to operations for what could be anchored, fixed-bottom turbines off the German coast. If all goes as planned, BP said the wind farm could be connected to the grid by the end of 2030.
An initial investment of $746 million is expected from BP.
The energy company faced shareholder backlash early this year over its broader strategy. BP pivoted on its carbon emissions strategy, announcing plans in February to invest $8 billion in new oil and gas production over the next seven years -- the same as it will spend on bioenergy, EV charging, hydrogen and renewable power.