Ørsted has entered into a $625m agreement to acquire Eversource Energy's 50% stake in a federal offshore wind lease area known as Lease Area OCS-A 500 (Lease 500) off Rhode Island and Connecticut in the US Northeast. This lease area, covering approximately 187,000 acres (76,000 hectares), is in the early stage of development and has the potential to generate up to 4 GW of offshore wind energy. The agreement includes not only the seabed but also contracts and partnerships for key operational assets in the US Northeast.
As part of the agreement, Ørsted will assume ownership of strategic port facilities, including the Port of Providence, the Port of Davisville, and Quonset Point in Rhode Island, as well as the New London State Pier in Connecticut. Ørsted will also gain full ownership of the operations and maintenance hub in East Setauket, New York, and a charter agreement for an offshore wind service operation vessel that is currently being built in Louisiana.
The acquisition is subject to customary closing conditions and regulatory review, with the expected closing date in the third quarter of 2023.
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