Eversource reviewing possible sale of offshore wind investments

Eversource Energy has begun a review of its offshore wind investments, which could result in the sale of all, or part of its 50% interest in its joint venture with the Danish power company Ørsted.
Revolution Wind is expected to be placed in service in 2025. That project is the impetus for a goal to transform the New London State Pier into a modern, heavy-lift facility capable of supporting offshore wind turbine staging and assembly and a broader range of cargo businesses. Eversource President and CEO Joe Nolan said the review will occur “in light of the record-setting prices in the recent federal lease auction for tracts around the New York Bight and an evolving landscape.” Eversource said it will continue to provide oversight of the siting and construction of onshore elements of the three active projects during the review. For the first quarter, Eversource reported profits of $443.4 million, or $1.28 per share, compared with earnings of $366.1 million, or $1.06 per share, in the year-ago period.


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