Offshore staff
FREDERICIA, Denmark — Ørsted has agreed to acquire Eversource’s 50% stake in the 924-MW Sunrise Wind development offshore New York.
Completion of the acquisition remains subject to the following:
- Successful award of the project in the current New York 4 solicitation for offshore wind capacity; and
- Signing of an OREC (Offshore Wind Renewable Energy Certificates) contract with New York’s energy agency, NYSERDA, entry into long-form acquisition agreements, receipt of construction and operations plan, and regulatory approvals.
If Sunrise Wind is not successful in the solicitation, the existing OREC contract will be cancelled and Ørsted/Eversource’s 50:50 joint venture for the project will remain in place, with the partners then assessing next steps.
Or if the project is provisionally awarded, a new contract will be negotiated with NYSERDA under the updated terms of the current solicitation.
Assuming Sunrise Wind does get the go-ahead, it should be completed in 2026, Ørsted added, helping New York achieve its goal of 70% renewable energy by 2030.
All main supplier and project labor agreements are in place for construction to start soon, with final federal permits anticipated this summer. Sunrise Wind will be the company’s third offshore wind farm development off the US’ northeast coast, following South Fork and Revolution Wind, both currently under construction.
01.25.2024
