Electricity generated from offshore wind farms is important to U.S. and state goals of cutting greenhouse gas emissions.
But the industry has been hit this year by inflation, higher interest rates and supply chain delays. In January, Equinor and BP (BP.L), opens new tab terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm.
The 810-megawatt (MW) Empire Wind 1 project will contribute to the state's goal of developing 9,000 MW of offshore wind power by 2035, Hochul said in a statement. Empire Wind 1 will connect into the transmission system for New York City.
The approval is the last one Equinor required for construction to begin. In March, Equinor said it had received approval from the Federal Energy Regulatory Commission.
The wind farm is scheduled to start producing power in 2026.
