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Thursday, July 18, 2024

New York Finalizes Offshore Wind Contracts for Equinor, Orsted Projects

Maritime Activity Reports, Inc.

June 4, 2024

© Thomas / Adobe Stock

© Thomas / Adobe Stock

The New York State Energy Research and Development Authority (NYSERDA) said on Tuesday it had finalized contracts for Equinor's Empire Wind 1 and Orsted's and Eversource's Sunrise Wind offshore wind projects.

NYSERDA in February awarded conditional contracts to buy electricity from two proposed offshore wind projects under a program meant to support the embattled industry and keep the state's ambitious clean energy goals on track.

The state at the time selected the Empire Wind 1 project from Norway's Equinor and the Sunrise Wind facility being developed by Denmark's Orsted and U.S. power provider Eversource.

Equinor said in a separate statement that it intends to bring in a partner to its project to reduce financial exposure.

Both Equinor and Orsted took large financial hits on their U.S. offshore wind portfolios last year amid soaring costs and supply chain constraints

(Reuters - Reporting by Anjana Anil and Nichola Groom,)