(Source: Shutterstock.com)
Eversource Energy has finalized an agreement to sell its 50% ownership in the 924-megawatt Sunrise Wind project to Ørsted, Eversource said on April 19.
Eversource said it will provide service to Ørsted and remain contracted, under a separate construction management agreement, to lead the onshore construction of Sunrise following the closing of the transaction, which is expected for later this year.
Sunrise will aim to reduce carbon emissions and advance the future of clean energy, according to Eversource President and CEO Joe Nolan.
“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,” Nolan said.
The agreement was previously announced Jan. 24 contingent on the wind project’s “successful” award in the most recent offshore wind renewable energy certificates request for proposals issued by New York’s energy agency, Eversource said.
Eversource will not have any ongoing ownership interest in the project, nor any ongoing financial obligations associated with project costs.
Goldman Sachs acted as financial adviser for the transaction and Ropes & Gray LLP serves as legal counsel.
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