Further to the company's announcement from January 24, 2024, and following the successful award of Sunrise Wind in the New York 4 solicitation for offshore wind capacity, Ørsted has now completed the acquisition of Eversource’s 50 per cent share of Sunrise Wind, a 924MW offshore wind farm located off the coast of New York. The purchase price at closing to acquire Eversource’s share of Sunrise Wind is US$152 million.
At signing in January 2024, the transaction was valued at US$230 million. The revised closing figure reflects adjustments made due to lower actual versus forecast CAPEX spend between signing and closing.
With the closing of the transaction, Ørsted has assumed full ownership of the project, which has all federal permits in place and recently signed an offshore wind renewable energy certificates (OREC) contract with New York’s energy agency, NYSERDA, at US$146 per MWh for 25 years. The final investment decision for the project was taken in March this year.
The Sunrise Wind project will be located south of Martha's Vineyard, Massachusetts, and east of Block Island, Rhode Island. It will have a total capacity of 924 MW of clean, renewable energy that could power more than 320,000 homes per year.