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Eversource Energy (NYSE:ES) today announced that it has completed the sale of its 50 percent ownership share in the 924-megawatt Sunrise Wind project (Sunrise Wind) to Ørsted. Gross proceeds of the transaction are $230 million, subject to spending adjustments between signing and closing, with 50% due at closing and the remaining balance paid upon the achievement of certain construction milestones.
On January 24, 2024, Eversource Energy (Eversource) announced that it had reached an agreement to sell its 50 percent interest in Sunrise Wind to Ørsted, contingent on – among other things – the project's successful award under the fourth New York State Energy Research and Development Authority (NYSERDA) solicitation for Offshore Wind Renewable Energy Certificates. Sunrise Wind was subsequently awarded a contract by NYSERDA, which was finalized and completed on May 31, 2024. In June 2024 the sale was approved by both the Federal Energy Regulatory Commission and the New York State Public Service Commission.
Posted In: ES
