The Danish energy group Ørsted has completed the acquisition of Eversource’s 50% share of the 924 MW Sunrise Wind offshore wind project, located off the coast of the US State of New York. The purchase price at closing to acquire Eversource’s share of Sunrise Wind is US$152m. At signing in January 2024, the transaction was valued at US$230m, and this revised closing figure reflects adjustments made due to lower actual versus forecast CAPEX spend between signing and closing.
In June 2024, the US Bureau of Ocean Energy Management (BOEM) announced its approval of the Construction and Operations Plan (COP) for the Sunrise Wind Project, and Ørsted had taken a final investment decision for the project in March 2024. The project is planned to have up to 84 wind turbine generators that is expected to power more than 320,000 homes per year once operational. The project is expected to be operational in 2026. The group has signed an OREC (offshore wind renewable energy certificates) contract with New York’s energy agency, NYSERDA at US$146/MWh for 25 years.
New York State aims to achieve a zero-emission electricity sector by 2040, including 70% renewable energy generation by 2030, and develop 9 GW of offshore wind by 2035.
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