bp to acquire a 55% stake in Deep Wind Offshore’s early-stage offshore wind portfolio.

bp agreed to acquire a 55% stake in renewable energy company Deep Wind Offshore’s early-stage offshore wind portfolio. Financial terms were not disclosed. “South Korea is an exceptional market to expand our growing offshore wind footprint. We are very happy to be working with a partner as strong as Deep Wind Offshore, which has managed to build a strong local team and develop these projects in collaboration with a variety of Korean stakeholders. We look forward to developing these gigawatts further so we can integrate these electrons in the wider energy system and help the global and South Korean energy transition," Matthias Bausenwein, bp Senior Vice President.