BP considers withdrawal from North Sea offshore wind projects

Energy giant BP is reportedly considering withdrawing from two major offshore wind projects in the German North Sea, known as ‘Oceanbeat West’ and ‘Oceanbeat East’. These projects, which have a combined capacity of 4 GW, were secured in a 2023 tender for 6.8 billion euros.

Reports from German media outlets, including NDR and Süddeutsche Zeitung, suggest that work on these projects has effectively stalled. Alaa Alhamwi, a Green Party member of the Bundestag, indicated that representatives from the joint venture had expressed intentions not to proceed with the construction. While BP has not officially confirmed a withdrawal, the company stated it is still analyzing various implementation options.

Industry leaders have warned of significant consequences if these investments fail to materialize. Marc Becker, head of offshore at Siemens Gamesa, noted that a failure to utilize existing licenses would create a ‘drastic gap’ in the sector. Siemens Gamesa executives have highlighted that a large portion of newly granted offshore capacity in Germany remains stuck, posing risks to the supply chain and the broader energy transition.