Eversource Energy is in advanced talks to unload its share in three offshore wind projects that it planned to build with Orsted A/S, and will take a fourth-quarter charge of as much as $1.6 billion. Eversource owns stakes in two joint ventures with Orsted that are developing the South Fork, Revolution and Sunrise sites east of Long Island, New York. The US firm expects an after-tax impairment charge of $800 million to $900 million on all of them. It will take an additional charge of as much as $700 million for Sunrise after local regulators rejected a request for higher rates for the project. The company reduced the carrying value of the projects after estimated construction costs rose, as did uncertainties tied to the rate request ruling. Orsted slipped as much as 1.9% in Copenhagen Tuesday. Since the Danish company had already marked down the value of these assets on its books last year, it won’t take a significant hit from the move by Eversource, Citigroup Inc. analyst Jenny Ping wrote in a note.
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