Ørsted has signed an agreement with Eversource to acquire Eversource’s 50% share of Sunrise Wind, a 924 MW offshore farm that would deliver power to New York.
The acquisition is subject to the successful award of Sunrise Wind in the ongoing New York 4 solicitation for offshore wind capacity.
If the project’s solicitation is not successful, the existing OREC contract for Sunrise Wind will be canceled per the state’s requirements, and Ørsted and Eversource’s 50/50 joint venture for Sunrise Wind will remain in place. In that scenario, the joint venture will evaluate its next steps.
If the project is provisionally awarded, a new contract will be negotiated with NYSERDA under the updated terms of the current solicitation.
“Sunrise Wind will be our third offshore wind farm off the Northeast coast, following South Fork and Revolution Wind, which are already under construction,” says Ørsted’s David Hardy. “The Northeast is an increasing priority for Ørsted, including these projects, port assets, a trained workforce, and supply chain partners. We’re building a future offshore wind hub that is strategic for Sunrise Wind, if awarded, as well as for upcoming solicitations in the region, helping us to differentiate and de-risk potential future bids and projects.”
If awarded the New York 4 solicitation, the company expects the project’s completion in 2026.
