Big oil buys into renewable power

Britain has auctioned seabed rights that will allow around 8 gigawatts of new wind farms – enough to power more than 7 million homes – with oil majors BP and Total taking a majority of the projects


New seabed bidding areas
1 and 2: Germany-based RWE 3.0 gigawatts 
3: Total and Macquarie Group 1.5 gigawatts
4 and 5: BP and German EnBW 3.0 gigawatts 
6: Cobra Instalaciones y Servicios and Flotation Energy 480 megawatts


BP and EnBW to pay £154,000 per megawatt per year for right to build wind farms


SCOTLAND
Newcastle
NORTH SEA
North Wales and Irish Sea
Hull 
Grimsby
Liverpool
IRISH SEA
WALES
ENGLAND
London
Folkestone 
Brighton
ENGLISH CHANNEL
FRANCE

Dogger Bank
Eastern Regions
South East

1 2 3 4 5 6

100km 62 miles


Sources: Bloomberg, UK Crown Estate
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