Germany – bp has secured the rights to develop two offshore wind projects in the recent German tender round, marking its entry into the continental European offshore wind market.
These projects, located in the North Sea and boasting a combined potential generating capacity of 4GW, align with bp’s integrated energy strategy and capital allocation approach. The company will lead the development, construction, and operations of these fixed-bottom offshore wind projects, with grid connection targeted by the end of 2030. The move signifies a significant milestone for bp’s decarbonization plans in Germany and showcases its commitment to renewable energy and low-carbon solutions.
Germany’s pivotal position
Germany holds a pivotal position in bp’s operations, with a history of nearly 120 years of presence in the country. The company employs approximately 4,000 people in Germany and operates two refineries and the leading retail network, Aral, with around 2,300 sites. As part of its low-carbon activities, bp is actively engaged in offshore wind, electric vehicle (EV) charging infrastructure, and low-carbon hydrogen plans. By investing in offshore wind projects, bp aims to contribute to Germany’s ambitious energy transition goals, which include achieving climate neutrality by 2045. Germany has set targets of having 30GW of offshore wind projects installed by 2030, at least 40GW by 2035, and at least 70GW by 2045.
bp’s entry into the German offshore wind sector reflects its commitment to renewable energy and power growth. The company’s offshore wind pipeline, in collaboration with joint venture partners, has a potential generating capacity of up to 5.2GW net to bp.
