Eversource Energy Discloses Execution of Definitive Agreement With Ørsted To Sell 50% Ownership Stake In Sunrise Wind; Transaction Is Expected To Close Later This Year
Portfolio Pulse from Benzinga Newsdesk
Eversource Energy (ES) has agreed to sell its 50% stake in Sunrise Wind to Ørsted, conditional on the project's selection by NYSERDA in New York's latest offshore wind energy bid. The deal, expected to close later this year, follows Sunrise Wind's successful bid in February 2024.
April 19, 2024 | 11:54 am
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Eversource Energy is selling its 50% stake in Sunrise Wind to Ørsted, contingent on regulatory approval. The transaction is expected to close later this year.
The sale of a significant stake in a major renewable energy project like Sunrise Wind indicates a strategic move by Eversource Energy. Given the project's selection by NYSERDA, this transaction not only validates the project's viability but also potentially enhances Eversource's financial flexibility and strategic positioning in the renewable energy market. The positive score reflects the anticipated favorable market reaction to this divestiture, considering the growing interest in renewable energy assets and the potential financial benefits from the sale.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100