European energy giants Equinor and BP have scrapped a deal to sell power to the state of New York from the Empire Wind 2 offshore wind farm in the Atlantic Ocean, saying the project is no longer commercially feasible. Citing higher inflation and borrowing costs, along with various supply chain issues, Equinor and BP said they would exit the agreement with the state of New York and would instead look for better offtake deals after the state’s regulators in October had rejected a request from BP and Equinor to seek higher rates for delivering…
