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BP will join a consortium to bid for offshore wind projects in Norway.
- Offshore wind projects will be developed without government subsidies.
- Low costs and ambitious carbon targets are making offshore wind projects economically feasible.
British oil company BP will join Norway’s Statkraft and Aker Offshore Wind to bid for permits to build offshore wind power projects off Norway. Each partner will have a 33.3% stake in the consortium. The consortium intends to bid for offshore wind power projects in the Soerlige Nordsjoe II licensing area in the southern part of the North Sea.
Norway’s government stated that offshore wind projects in the Soerlige Nordsjoe II area would be developed without subsidies.