Ørsted sells 50% stake in US offshore wind assets to Eversource for US$225m
11 February, 2019
Danish power company Ørsted has agreed to sell a 50% stake in 830MW offshore wind assets in the US to Eversource for US$225m (£174m).
Under the agreement, Eversource will own a 50% stake in Ørsted’s Revolution Wind and South Fork Wind Farm projects, along with the 413.6sq km tract off the coasts of Massachusetts and Rhode Island.
The 700MW Revolution project, located 24km south of the Rhode Island coast, is expected to generate enough clean energy to power more than 400,000 homes once operational in 2023.
South Fork, with a capacity of 130MW, will power 70,000 homes and is expected to be commissioned by the end of 2022.
The three assets were acquired by Ørsted last November as part of its Deepwater Wind transaction.
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