Ørsted and Eversource propose updated wind project in New York

As the most mature offshore wind project in the state’s pipeline, Sunrise Wind is expected to be completed in 2026, helping the state achieve its mandate of 70% renewable energy by 2030, while paving the way for future state projects and accelerating the state’s growing offshore wind workforce and supply chain.

“Sunrise Wind is ready-to-build and ready to make more historic investments in New York’s offshore wind economy, creating jobs and delivering economic benefits immediately,” said David Hardy, Group EVP and CEO Americas at Ørsted. “We’re already leading the way with our trailblazing South Fork Wind project. Sunrise Wind will build on the promise of offshore wind for New York, including hundreds more local union jobs and investments in a state-wide supply chain, while delivering major progress toward New York’s clean energy targets.”

“Dozens of New Yorkers are already hard at work on the early construction for Sunrise Wind,” said Joe Nolan, CEO and President of Eversource Energy. “That would grow into hundreds of new jobs and considerable new investment for New York, especially for the local unions slated to build the project’s onshore transmission system.”

The Sunrise Wind design has been reviewed and accepted by all relevant state agencies, and the project has secured all major supplier and project labour agreements to commence work shortly after award. Final federal permits are expected this summer.

Sunrise Wind has earned broad bipartisan support across New York from local elected officials and business, community, labour and environmental organisations.

Ørsted to become sole owner in successful Sunrise Wind Award

In advancing the re-bid for Sunrise Wind, the joint venture reached an agreement for Ørsted to acquire Eversource’s 50% share in the project if it is awarded a contract in New York’s fourth offshore wind solicitation. In a successful re-bid, Ørsted would become the sole owner of Sunrise Wind, while Eversource would remain contracted to lead the project’s onshore construction. Should Sunrise Wind be successful in the re-bid, Ørsted would pay 50% of the negotiated purchase price upon closing the sales transaction, with the remaining 50% paid when onshore construction is completed and certain other milestones are achieved. If the project is not selected, the existing contract for Sunrise Wind would be cancelled, per the state’s requirement, and the 50/50 joint venture will remain in place. Ørsted and Eversource would then assess their options in determining the best path forward for Sunrise Wind and its assets.

 

 

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Read the article online at: https://www.energyglobal.com/wind/26012024/rsted-and-eversource-propose-updated-wind-project-in-new-york/