Ørsted Completes Acquisition of Eversource’s Share in Sunrise Wind

In a major milestone for offshore wind energy, Ørsted has finalized the acquisition of Eversource’s 50% share in the Sunrise Wind project. The 924 MW offshore wind farm, situated off the coast of New York, marks a significant step forward for New York's clean energy ambitions.

The closing purchase price was set at USD 152 million, adjusted from the initial valuation of USD 230 million made in January 2024. This adjustment reflects lower-than-anticipated CAPEX expenditures.

With full ownership now secured, Ørsted has all federal permits and a lucrative 25-year OREC contract with New York's energy agency, NYSERDA, set at USD 146 per MWh. The final investment decision was made in March of this year.

David Hardy, Executive Vice President and CEO of Region Americas at Ørsted, noted the de-risking of the project and its potential to expand New York's offshore wind supply chain and workforce.