Ørsted has completed the acquisition of Eversource’s 50 per cent stake in the Sunrise Wind project. It is a 924 MW offshore wind farm situated off the coast of New York. This acquisition follows the successful award of Sunrise Wind in New York’s fourth solicitation for offshore wind capacity.
Furthermore, the purchase price for buying Eversource’s share at closing was $152 million. Initially, the transaction was valued at $230 million in January 2024, but the final figure was adjusted due to lower actual CAPEX spend compared to the forecast between the signing and closing dates.
With this transaction, Ørsted now fully owns the Sunrise Wind project. The project has secured all necessary federal permits. Additionally, the project recently secured an offshore wind renewable energy certificates contract with NYSERDA, New York’s energy agency, at $146 per MWh for a duration of 25 years. Reportedly, the final investment decision for the project was made in March of this year.
In June 2024, Ørsted completed the Helena Energy Center situated in Bee County, South Texas. It is a combined wind and solar project with a total capacity of 518 MW. The wind and solar centre is now fully operational and will produce enough renewable energy to power over 110,000 homes and businesses annually in Texas.
