Ørsted takes over 924 MW Sunrise offshore wind project

Ørsted has signed an agreement with Eversource to acquire Eversource’s 50 % share of the 924 MW Sunrise Wind project.

The acquisition is contingent upon the successful allocation of the Sunrise Wind project in the ongoing New York 4 solicitation for offshore wind capacity. It also requires the execution of an OREC (Offshore Wind Renewable Energy Certificates) contract with New York's energy agency, NYSERDA, entering into comprehensive acquisition agreements, and obtaining approval for the construction and operations plan (COP). If Sunrise Wind fails to secure success in the solicitation, the existing OREC contract will be terminated according to state requirements, and the Ørsted and Eversource 50/50 joint venture for Sunrise Wind will persist. In such a scenario, the joint venture will assess its future actions. In the event of a provisional award, a new contract will be negotiated with NYSERDA, adhering to the updated terms of the current solicitation. If awarded, Sunrise Wind, slated for completion in 2026, will contribute to New York's objective of achieving 70% renewable energy by 2030.