Ørsted said on July 9 it has assumed full ownership of the 924-megawatt Sunrise Wind project offshore New York, after closing the sale with Eversource Energy.

Completion of the deal, announced in April, came after the successful award of Sunrise Wind in the New York 4 solicitation for offshore wind capacity. Eversource sold its 50% stake in the project to Ørsted for $152 million. The purchase price was down from the $230 million at signing in January due to adjustments reflecting lower actual capex than forecast capex between signing and closing, according to Ørsted.

“The transaction is a value-accretive opportunity for Ørsted as we continue to develop the project,” said David Hardy, CEO of Ørsted’s Americas region. “As a centerpiece of New York’s clean energy economy, Sunrise Wind builds on our momentum from South Fork Wind, further expanding the local offshore wind supply chain and workforce.”

Eversource said it entered a separate amended and restated construction management agreement with Sunrise Wind to lead onshore construction for the project, serving as a service provider.

Sunrise Wind, which reached a final investment decision in March, will have up to 84 wind turbine generators. The project is expected to begin operations in 2026.

Comments