Empire Wind 1 Reaches Financial Close: What It Means for Suppliers
On 2 January 2025, Equinor announced that Empire Wind 1, an 810 MW offshore wind project offshore New York, had secured a project-financing package of more than USD 3 billion, with financial close reached at the end of December 2024. The project is expected to reach commercial operation in 2027, with total capital investments estimated at approximately USD 5 billion, including the effect of expected future tax credits (ITCs).
For EPC engineers, procurement managers, and industrial buyers, this milestone is not just a headline—it signals a concrete pipeline of procurement activity. Offshore wind projects require extensive piping systems for cooling water, fire protection, hydraulic systems, and balance-of-plant infrastructure. Flanges, forged fittings, and pipe supports are among the critical components that will be specified, sourced, and inspected.
However, as with any large energy project, the procurement process is fraught with risks. This article outlines what buyers should verify before engaging with suppliers, based on the verified facts of the Empire Wind 1 project.
Project Overview: Key Verified Facts
- Financing: Project-financing package of over USD 3 billion; financial close at end of December 2024.





