Ørsted and Eversource Propose Updated Sunrise Wind Project for New York

Joint venture partners Ørsted and Eversource submitted a new proposal for Sunrise Wind in response to New York’s latest offshore wind solicitation, re-bidding an updated project that, if selected, would fulfill its promise to deliver substantial economic benefits across New York and play a critical role in advancing the state’s climate goals. Sunrise Wind would deliver up to 924 megawatts of clean energy to 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 percent 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 statewide 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, Chief Executive Officer 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 labor 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, labor and environmental organizations.

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 percent 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 percent of the negotiated purchase price upon closing the sales transaction, with the remaining 50 percent 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.

Additional Information on Sunrise Wind’s Community Investments

Sunrise Wind is making significant investments in the state’s offshore wind workforce and supply chain, including:

Ørsted | us.orsted.com

Eversource | eversource.com