Eversource Energy has completed the necessary paperwork for its previously disclosed deal to sell its 50 per cent share in the 924 MW Sunrise Wind project to Ørsted. Despite the sale, Eversource will continue to oversee the onshore construction of the Sunrise Wind project through a separate construction management agreement.
In this, Eversource will act as a service provider to Ørsted without retaining any ownership stake or financial responsibilities tied to the project’s costs. Furthermore, the agreement was initially announced in January 2024. The Sunrise Wind project is expected to be completed in 2026,
The transaction is planned to conclude later this year, subject to receipt of regulatory approvals and the finalisation of a contract with the New York State Energy Research and Development Authority. The project has secured all major supplier and project labor agreements and final federal permits are expected this summer.
REGlobal’s Views: This is Ørsted’s third offshore wind farm off the northeast coast, and the other two are already under construction. Northeast US is an important area for offshore wind development, and New York particularly has been pro-active in this space. Large offshore wind projects will help New York achieve its goal of reaching 70 percent renewable energy by 2030.
