Eversource Energy Announces Agreement To Sell Interest In Uncommitted Offshore Lease Area For $650M
Portfolio Pulse from Benzinga Newsdesk
Eversource Energy has agreed to sell its 50% interest in an uncommitted offshore lease area of 175,000 acres off the coast of Massachusetts to Ørsted for $625 million in an all-cash transaction. The deal is expected to close by Q3 2023, subject to regulatory approvals.
May 25, 2023 | 8:31 pm
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POSITIVE IMPACT
Eversource Energy's sale of its 50% interest in an uncommitted offshore lease area to Ørsted for $625 million may have a positive short-term impact on its stock price.
The sale of Eversource Energy's 50% interest in the uncommitted offshore lease area for $625 million in an all-cash transaction is a significant deal for the company. This influx of cash may be used to invest in other projects or reduce debt, which could positively impact the company's financial position and potentially boost its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100