Beacon Wind 1
Lease area OCS-A 0520, ~128,000 acres, ~32 km southwest of Nantucket and ~97 km east of Montauk Point. BW1 grid connection to Queens, NY; BW2 to CT or NY.
Status
On Holdlifecycle stage
FragileHafrok completion outlook
Ownership
JNJERA Nex bp — 100% ◆
Location
United StatesNorthwest Atlantic
Technology
Capacity
1,230 MW ◇
Turbines
—
Foundation
—
Site & conditions
Site rights
Seabed rights held ∴
Origination
BOEM Massachusetts Lease Sale (ATLW-4A) · 2018 ·
Water depth
39–61 m ≈
Distance from shore
97 km ◇
Wind speed
10.2 m/s @ 150 m ≈
Revenue & grid
Offtake
—
Grid
—
Schedule
FID
Not taken
COD · Hafrok
—
Delivery outlook modelled by Hafrok · calibrated on delivered projects
—
on hold — no credible date; the chart shows when a restarted project might complete
Chance of delivery
≈6%
estimated chance this project reaches commercial operation
Projects put on hold complete ≈15% of the time on Hafrok's record. This one sits well below that: a market with a thinner delivery record, its size, technical complexity and no offtake contract yet. Only a restart would change that — there is no dated schedule to judge against. That figure is then halved while Hafrok reads the United States route as closed: a route that has to be won again is less likely to be won.
COD outlook
If it completes, when — Hafrok’s probability by year (teal)
| Year | Probability |
|---|---|
| 2033 | 20.0% |
| 2034 | 20.0% |
| 2035 | 20.0% |
| 2036 | 20.0% |
| 2037 | 20.0% |
How Hafrok got this date
1
On hold — no dated schedule
The project is recorded as On Hold, so no sequence of milestones can be trusted. Hafrok publishes no expected year; the chart instead spreads the remaining chance of completion over the years a restarted project might finish in.
2
Route closed until 2029
Hafrok believes a held project in the United States is unlikely to resume before a route to build exists again, and does not expect one before
January 2029. On that reading the years the chart spreads the remaining chance over begin after 2029, not after today. This is Hafrok's judgment, not a fact on the record — what it rests on: United States market page.3
Chance of delivery — separate from timing
Start from the share of On Hold projects that went on to complete — ≈15%, measured on Hafrok's record of delivered and abandoned projects, with an allowance held back where that record cannot yet speak (projects still unresolved, changed market conditions). Historically only a minority of projects put on hold returned to delivery — the estimate reflects that. Then adjust for this project's own evidence — offtake, market, size, technical complexity — and halve the result while Hafrok reads the United States route as closed (a route that has to be won again is less likely to be won) — to ≈6%, which rates it
Fragile on Hafrok's four-step delivery scale (Delivering · Expected · Prospective · Fragile).Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2018-12
BOEM Massachusetts Lease Sale (ATLW-4A)
- Awarded to
- Equinor Wind US, LLC
- Lease
- OCS-A 0520
- Basis
- seabed award
From the auction results — the round that created the project.
Farmdown · 2020-09
Equinor → BP 50%
- Stake
- 50%
- Consideration
- not disclosed
- Announced
- 2020-09
- Closed
- 2021-Q1
- Project stage
- early development
On 10 September 2020, Equinor and BP announced that BP would acquire a 50% non-operated interest in both the Empire Wind and Beacon Wind lease areas for a combined consideration of USD 1.1 billion. The deal effective date was 1 January 2020 with closing in early 2021 subject to regulatory approvals. The USD 1.1bn covered both Empire Wind (~2 GW potential, two phases) and Beacon Wind (~2.4 GW potential, two phases). Equinor had acquired the Beacon Wind lease (OCS-A 0520, 128,000 acres, 60 miles east of Montauk Point) in 2019 and remained operator. BP took a pre-tax impairment of ~USD 600m on US offshore wind assets in 2023. Beacon Wind 1 is Phase 1 of Beacon Wind (1,230 MW); total potential ~2.4 GW. Equinor Q1 2021 'capital gain from farm downs of around USD 1.4 billion' covers this deal PLUS Dogger Bank A/B (Eni) — gain, not consideration. (USD 1.1bn ~ EUR 933m @ 1.1792 2020-09 ECB avg.)
Evidence
- equinor.com — Equinor partners with BP in US offshore wind to capture value and create platform for growth ↗ 2020-09 ◆ held
- bp.com — bp and Equinor form strategic partnership to develop offshore wind energy in US | News and insights | Home ↗ 2020-09 ◆ held
- ogj.com — BP enters $1.1 billion offshore wind partnership with Equinor | Oil & Gas Journal ↗ 2020-09 ◆ held
- Equinor — Equinor — SEC Form 20-F for the period ended 2020-12-31 (filed 2021-03-19) ↗ 2021-03-19 ◆ held
From Hafrok’s transactions record
Secondary trade · 2024-01
Equinor → BP 50%
- Stake
- 50%
- Consideration
- €0.0m
- Announced
- 2024-01
- Closed
- 2024-04
- Project stage
- early development
On 25 January 2024, Equinor and BP announced a cash-neutral swap transaction: BP would take full ownership (100%) of Beacon Wind Holdings LLC, and Equinor would take full ownership (100%) of Empire Offshore Wind Holdings LLC. The agreed effective date was 1 January 2024; regulatory approvals received and the transactions closed 4 April 2024. The swap was explicitly described as cash neutral "except for standard settlements of cash and working capital items." Equinor had held 50% of Beacon Wind; BP already held 50%. Equinor wrote down ~USD 200m on its US wind investments; BP wrote down ~USD 600m. After the swap, BP became the 100% owner and operator of Beacon Wind (Phases 1 and 2).
Evidence
- Equinor ASA — Equinor to take full ownership in Empire Wind through a swap transaction with bp in the US ↗ ◆ held
- bp.com — bp to take full ownership of Beacon Wind US offshore projects and transfer interest in Empire Wind to Equinor | News and insights | Home ↗ 2024-01 ◆ held
- nsenergybusiness.com ↗
From Hafrok’s transactions record
JV formation · 2024-12
BP · JERA stake not disclosed
- Stake
- not disclosed
- Consideration
- not disclosed
- Announced
- 2024-12
- Closed
- 2025-08
- Project stage
- early development
On 9 December 2024, BP and JERA announced formation of JERA Nex bp, a planned 50/50 offshore wind joint venture. BP contributed its offshore wind assets (including Beacon Wind, held 100% since the April 2024 Equinor swap) along with other global wind assets. JERA contributed its offshore wind platform including Parkwind assets (Northwester 2, Arcadis Ost 1, Formosa 1/2). The combined portfolio had net potential generating capacity of 13 GW. The JV was officially launched on 1 August 2025. Beacon Wind was brought into JERA Nex bp as a key US development asset.
Evidence
- jeranex.com — JERA Nex bp Offshore Wind Joint Venture ↗ 2024-12 ◆ held
- bp.com — JERA and bp launch offshore wind joint venture JERA Nex bp ↗ 2024-12 ◆ held
- offshoreWIND.biz — BP, JERA Forming 'One of Largest Global Offshore Wind Developers' ↗ 2024-12 ◆ held
- parkwind.eu — JERA Nex bp Parkwind | bp and JERA joining forces to create top-tier… ↗ 2024-12 ◆ held
From Hafrok’s transactions record
Cancellation · 2025-10
JERA Nex bp 100%
- Stake
- 100%
- Consideration
- not disclosed
- Announced
- 2025-10
- Project stage
- early development
In October 2025, JERA Nex bp announced the halting of all investment in Beacon Wind and withdrawal from the US offshore wind market. The company cited unfavourable macroeconomic and supply chain conditions, the Trump administration's hostility to offshore wind, and no viable path to project development. JERA Nex bp stated it would retain the Beacon lease area and wait for a more favourable market moment, but closed US operating activities and laid off the local team. The lease area (OCS-A 0520) remains in the JERA Nex bp portfolio. Equinor had previously written down ~USD 200m; BP ~USD 600m on US wind assets; EDF booked EUR 934m impairment on Atlantic Shores in early 2025. Classified as divestment for tracking purposes (operator exit from project), though no equity transfer occurred.
Evidence
- offshoreWIND.biz ↗ ◆ held
- rigzone.com — BP, JERA Halt US Offshore Wind Activities ↗ 2025-10 ◆ held
- worldoil.com — bp to exit U.S. offshore wind market as Trump administration tightens oversight ↗ 2025-10 ◆ held
From Hafrok’s transactions record
Dashed tick marks today (9 Sep 2026). The teal diamond on the spine is origination — the seabed award or round that created the project. Every other ownership event lives in the band below: one station per recorded deal, dated at its label, in deal order rather than to calendar scale. Secondary trades appear only at the interchanges; grey lines are parties whose entry or exit Hafrok’s record does not hold.
Revenue & offtake route to market — open
No offtake secured — route to market open
OREC · NYSERDA Offshore Wind Solicitation 2 (ORECRFP20-1) awarded 2021-01, terminated. No live offtake on record. ◇
The routes describe what exists in this market — not a prediction of which the project will take. Timing math for the auction gate lives in the delivery outlook above.
Next visible round · from the auction calendar
NYSERDA Offshore Wind Solicitation 6 (NY6) ◇
design/RFI stage only; no timetable, conditioned on the federal market improving
Installation how the build is going · from satellite counts and Hafrok’s registers
Installation not started
nothing to count yet: the satellite tracker begins when offshore construction does
Installation · on record
StageOn Hold
Offshore constructionnot started
Expected start of operationnot stated
Sources & verification
3/11 fields verified · rests on 10 sources (4 primary) · ◆ 5 documents held
◆Verified≈Modelled◇Sourced∴Inferred⌁Convention○Unverified∅No source·Derived
Numbers are stable citation ids — grouped by source class, so they are not consecutive.
Regulator3
[8]
[9]
[13]
Bureau of Ocean Energy Management (BOEM)2026-08-23◆ US BOEM offshore-wind register (FR docum…
“Consistent with the regulations implementing the National Environmental Policy Act (NEPA), BOEM announces its intent to prepare an EIS for a construction and operations plan (COP) submitted by Beacon …”
supportsConsentConsent applied
Operator1
[14]
Auction results1
[15]
New York PSC2026-06-22◆ us-nyserda-sol2-2021-nypsc-repricing
NY PSC denies OREC inflation-adjustment petitions (Oct 2023): the contracts had no reopener
supportsOfftake history
Auction pipeline1
[16]
Offshore Wind (offshorewind.biz)2026-02◆ ny-ny5-ended-2026
Press report — cited, not quoted; read it at the source link.
supportsNYSERDA Offshore Wind Solicitation 6 (NY6)
Trade press3
[7]
offshoreWIND.biz2025-10◆ document
Press report — cited, not quoted; read it at the source link.
supportsoperator
[10]
[11]
Unverified import1
[1]
unknown◆ document
Press report — cited, not quoted; read it at the source link.
supportsTotal capacityWater depthDistance from shoreCoordinates