Ørsted to Acquire Eversource Share of Uncontracted Offshore Wind Seabed and Key Northeast Operational Assets
Summary
“I want to thank Eversource for our six-year partnership and for their expertise that has strategically advanced the onshore scopes of our three projects, which will deliver renewable energy to Rhode Island, Connecticut and New York,” said David Hardy, Group EVP and CEO Americas at Ørsted. In addition to taking full ownership of seabed that is familiar to our team after years of work in this area, we will also be the sole bidder in our New York 3 and Rhode Island 2 active offshore wind solicitations. The combination of the seabed and additional components in this agreement further establish a major hub in the Northeast for our activities and future opportunities.” Lease 500 is strategic to Ørsted’s U.S. offshore wind portfolio. We continue to expect that offshore wind projects built in our partnership’s lease area, including the three now under development, will play a critical role in decarbonizing the generation mix of Southern New England and New York,” said Joe Nolan, Eversource’s president, chief executive officer, and chairman. Securing the tax equity arrangement is a critical milestone for South Fork Wind ahead of its plan to begin operations and delivering renewable energy later this year.