Empire Offshore Wind, a joint venture comprising Equinor and BP has cancelled a key offshore wind farm contract that was awarded last year to Singapore-based Seatrium for work on the Empire Wind project in the United States.

Seatrium said on Thursday that it has been informed by Empire Offshore Wind that as a result of “significant macroeconomic conditions impacting the Empire Wind 2 project, it has decided to cancel the contract for the 1,260 megawatts offshore substation (OSS) platform valued at more than S$250 million (US$188 million).”