- Published: 08 September 2023 08 September 2023
Ørsted has announced it has reached financial close of its acquisition of Eversource Energy’s 50 percent interest in the uncontracted federal offshore wind lease area previously owned jointly by the two companies.
The U.S. Treasury Department’s Committee on Foreign Investment approved the $625 million acquisition on July 27. The lease area, which includes Lease Area OCS-A 500 (Lease 500), contains approximately 187,000 uncontracted acres of seabed for American offshore wind energy and has a potential capacity of up to 4 gigawatts. In connection with this transaction, Ørsted and Eversource Energy have also executed an agreement for Ørsted’s acquisition of certain contracts and leases for strategic port facilities and other assets previously owned jointly by the two companies. Ørsted will also take full ownership of partnerships with the Port of Providence, the Port of Davisville, and Quonset Point, all in Rhode Island, and with Connecticut's New London State Pier. Ørsted will also acquire ownership ofthe operations and maintenance hub in East Setauket, N.Y., and the charter agreement for the first American-built offshore wind service operations vessel, which is under construction at Edison Chouest’s facility in Houma, Louisiana, and is more than 50 percent complete.