The New York State Energy Research and Development Authority (NYSERDA) has selected Sunrise Wind to negotiate a 25-year offshore wind renewable energy certificate (OREC) for an offshore wind farm with a capacity of 880MW.

Sunrise Wind is a 50-50 partnership between Ørsted, the world's leading offshore wind developer, and Eversource, New England's largest energy company.

As part of its winning proposal for New York, Sunrise Wind will bring economic development by constructing an operations and maintenance hub in Port Jefferson, Long Island, investing in additional port infrastructure upgrades and establishing offshore wind training programs in the state of New York. Furthermore, Sunrise Wind is exploring transmission partnerships with the New York Power Authority (NYPA) and the leading New York utility Con Edison.

Subject to contract signing and Ørsted's and Eversource's final investment decision, the wind farm is expected to be operational in 2024.

Martin Neubert, Executive Vice President and CEO of Ørsted Offshore, says:

"New York State has set an ambitious goal to be 100% powered by clean energy by 2040. We fully share that vision, and we're proud to bring more than two decades of offshore wind expertise to the state and to be fronting the offshore wind build-out in New York with a combined 1,000MW capacity via our South Fork and Sunrise Wind projects."

"Less than a year ago, we created the leading US offshore wind platform by merging the asset portfolios and competences of Deepwater Wind and Ørsted US. Our recent significant project wins in New Jersey and New York are proof of the strengths and quality of the combined organization."

Thomas Brostrøm, CEO of Ørsted US Offshore Wind and President of Ørsted North America, says:

"Sunrise Wind will contribute significantly to achieving governor Cuomo's bold and ambitious goal for New York's transition to renewable energy by supplying more than half a million New York homes with wind power. The offshore wind industry offers great opportunities for long-term industrial development, and Sunrise Wind will bring skilled jobs to the state during construction and throughout its operational lifetime."

Sunrise Wind will be located 30 miles east of Montauk Point, Long Island, adjacent to Ørsted's South Fork and Revolution Wind projects.

By taking a portfolio approach to their Northeast projects, comprising South Fork, Sunrise Wind and Revolution Wind with a total capacity of approx. 1.7GW to be built in 2022-2024, Ørsted and Eversource will be able to leverage significant procurement synergies and optimize the construction and operation of the project portfolio.

Ørsted and Eversource have signed a wind turbine contract with Siemens Gamesa for the joint venture's Northeast project portfolio. Subject to Ørsted's and Eversource's final investment decision, all three offshore wind farms will be installing Siemens Gamesa's 8.0MW turbines.

Ørsted has set up offices in New York City and Long Island and is currently developing New York State's first offshore wind project, the South Fork Wind Farm off Long Island. Construction is planned to start in 2021, and the wind farm will be operational in 2022.

The information provided in this announcement does not change Ørsted's previous financial guidance for the financial year of 2019 or the announced expected investment level for 2019.

Ørsted | orsted.com

Eversource | www.eversource.com

NYSERDA | https://www.nyserda.ny.gov