Ørsted, a Danish renewable energy company, has agreed to acquire Eversource’s 50 percent share of Sunrise Wind, a 924 MW offshore wind farm that would supply power to New York. The deal is contingent on Sunrise Wind winning the New York 4 solicitation for offshore wind capacity, which is expected to be announced soon.
Sunrise Wind is the most advanced offshore wind project in New York, and aims to be operational by 2026, contributing to the state’s goal of reaching 70 percent renewable energy by 2030. The project has received approval from state agencies and secured contracts with suppliers and workers. It is awaiting final federal permits, which are expected this summer.
David Hardy, Group Executive Vice President and CEO of Region Americas at Ørsted, says: “Following a thorough risk review of our US portfolio, we’re comfortable with taking full ownership of Sunrise Wind if the project is awarded in New York 4. This transaction is a value-accretive opportunity for Ørsted and the best path forward for the project.
“Sunrise Wind will be our third offshore wind farm off the Northeast coast, following South Fork and Revolution Wind, which are already under construction. The Northeast is an increasing priority for Ørsted, including these projects, port assets, a trained workforce, and supply chain partners. We’re building a future offshore wind hub that is strategic for Sunrise Wind, if awarded, as well as for upcoming solicitations in the region, helping us to differentiate and de-risk potential future bids and projects.”
Joe Nolan, Chief Executive Officer and President of Eversource Energy, says: “We’re proud of the work we have already accomplished for Sunrise Wind and look forward to continuing our leadership position building onshore interconnection systems for offshore wind projects in the Northeast.”