Eversource Energy has completed the necessary paperwork for its previously disclosed deal to sell its 50 per cent share in the 924 MW Sunrise Wind project to Ørsted. Despite the sale, Eversource will continue to oversee the onshore construction of the Sunrise Wind project through a separate construction management agreement.
In this, Eversource will act as a service provider to Ørsted without retaining any ownership stake or financial responsibilities tied to the project’s costs. Furthermore, the agreement was initially announced in January this year.
The transaction is planned to conclude later this year, subject to receipt of regulatory approvals and the finalisation of a contract with the New York State Energy Research and Development Authority. Goldman Sachs will serve as financial advisor and Ropes & Gray LLP serves as legal counsel for Eversource.
