ERM has acted as a technical and environmental, social and governance advisor to Global Infrastructure Partners (GIP) in its acquisition of Eversource’s 50% stake in U.S. offshore projects South Fork Wind and Revolution Wind.
South Fork Wind, a 132 MW project located 35 miles east of N.Y.’s Montauk Point, is expected to enter service this year. Revolution Wind is a 715 MW project located 32 miles off Connecticut’s coast with an anticipated completion next year.
ERM’s technical due diligence services included contract assessment and geotechnical and geophysical studies, as well as analysis of the projects’ CapEx and OpEx profiles.
“ERM is proud to serve as a technical advisor to GIP in support of its investment,” says ERM’s Matthew Irvine. ”Our global transaction advisory team helps investors navigate the US market using the team’s vast experience in offshore wind transactions around the world. This significant transaction comes at a time of rapid growth in the US sector with several offshore wind farms now under construction. It also shows investors’ continued appetite for offshore wind in the US market.”
