The US energy major BP has bagged a luminous stake of 50 per cent in Norway’s Equinor for $ 1.1 billion.
The stake would be sold in two substantial offshore wind power development projects of the US, the company told on Thursday.
Furthermore, the companies are working on to strengthen their bond by developing a strategic partnership within the offshore wind project.
The conglomerates will hop-upon future joint chances for floating, and bottom-fixed offshore wind facilities stated the Norwegian firm.
Notably, Equinor will be taking care of the operations of the project, including construction and development.
Expectedly, the deal is going to zero-in on in early 2021.