Eversource Energy says it has finalized the agreement to sell its 50% ownership stake in the 924 MW Sunrise Wind project to Ørsted.
Eversource will remain contracted, under a separate agreement, to lead the project’s onshore construction following closing. In this role, Eversource will be a service provider to Ørsted and will not have any ongoing ownership interest in the project.
“We’re proud of the work we have already accomplished for Sunrise Wind and look forward to assisting Ørsted and the State of New York in advancing this important clean energy project through our continued onshore support,” says Joe Nolan, CEO and president of Eversource Energy.
“Sunrise Wind will bring considerable new investment and job opportunities to New York, especially for the local union slated to build the project’s onshore transmission system, while also helping to reduce carbon emissions and advance a clean energy future. We look forward to our continued role as a leading transmission expert to help enable the continued development of this important renewable resource for our region.”
Eversource engaged Goldman Sachs as its financial advisor to assist with the transactions, with Ropes & Gray serving as legal counsel.
