Ørsted said it signed an agreement with Eversource to acquire Eversource’s 50% stake in Sunrise Wind, according to a news release dated January 24, 2024. Sunrise Wind is a 924 MW offshore wind farm that would deliver power to New York.

1. 01

   Ørsted said it signed an agreement with Eversource to acquire Eversource’s 50% stake in Sunrise Wind, according to a news release dated January 24, 2024. Sunrise Wind is a 924 MW offshore wind farm that would deliver power to New York.

2. 02

   The company said the acquisition is subject to Sunrise Wind winning an award in the ongoing New York 4 solicitation, signing an OREC contract with NYSERDA, finalizing acquisition agreements, receiving the construction and operations plan, and obtaining relevant regulatory approvals.

3. 03

   The company said that if Sunrise Wind is not awarded in the solicitation, the existing OREC contract will be cancelled and the 50/50 joint venture between Eversource and Ørsted will remain in place, and the joint venture will evaluate its next steps. It said that if the project is provisionally awarded, a new contract will be negotiated with NYSERDA on the updated terms of the current solicitation.

4. 04

   Eversource said Sunrise Wind, if awarded in the New York 4 solicitation, is expected to be completed in 2026 and will help New York reach its goal of 70% renewable energy by 2030. It said final federal permits are expected this summer.

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Original filing

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