BOSTON – May 25, 2023 – Ørsted, the U.S. leader in offshore wind energy, announced it has signed an agreement to acquire Eversource Energy’s 50 percent interest in the uncontracted federal offshore wind lease area currently owned jointly by the two companies. In addition to the seabed, which is in early-stage development, the agreement also includes contracts and partnerships for key operational assets in the Northeast.
The $625 million agreement further strengthens Ørsted’s leading position in offshore wind energy and demonstrates the company’s commitment to building an American offshore wind industry, including a supply chain that creates jobs across the United States and drives innovation for the global market.
As part of the agreement with Ørsted, Eversource will provide tax equity for the South Fork Wind project. Securing the tax equity arrangement is a critical milestone for South Fork Wind ahead of its plan to begin operations and delivering renewable energy later this year. Eversource will continue to support onshore scopes of all three projects through construction, ensuring the long-term continuity and success of the portfolio.