On February 15, bp announced the successful acquisition of a 55% stake in Deep Wind Offshore’s early-stage offshore wind portfolio. Their four projects to be developed across the Korean peninsula have a potential generating capacity of up to 6GW.

For this acquisition, RPS supported bp with a comprehensive technical due diligence assessment, drawing on an invaluable combination of local and international knowledge and expertise.

RPS teams in South Korea and the UK have been collaborating with their local partner Sekwang Engineering consultants, who are known for their major marine and harbour infrastructure projects in South Korea.

Commenting on this project, Michael Smith, Head of Special Projects at bp offshore wind, said 
“I would like to thank RPS for their Technical Due Diligence work, and for their continued support for our entry into the Korean offshore wind market.”

RPS’ current offshore wind projects for bp include Morgan and Mona in the Irish Sea, and Morven, which is part of the recent ScotWind leasing round. We have also delivered multiple projects to support the development of Empire and Beacon Wind in the USA.

Mark Houston, Managing Director - Energy Transition at RPS, says: 
“We are pleased to have been engaged by bp, on an ongoing basis, supporting their ambitions to develop offshore wind in South Korea. RPS is providing a range of technical services to support early phase project development, permitting, and grid connection.

Our expertise in early-stage project feasibility studies, our deal advisory expertise, and our existing presence and partnerships in Korea mean that we are well-positioned to support this exciting new venture with bp. We are looking forward to supporting bp as they continue to expand their global clean energy portfolio, and Korea’s important net zero goals.”

KeyFacts Energy Industry Directory: RPS Energy