Sunrise Wind receives federal record of decision, takes final investment decision
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Ørsted A/S (Orsted)
26.3.2024 18:21:55 CET | Ørsted A/S | Investor News Sunrise Wind today received its Record of Decision (RoD) from the US Department of the Interior's Bureau of Ocean Energy Management (BOEM), crossing a critical milestone in the federal environmental review process for the offshore wind project serving New York. Additionally, Ørsted and Eversource today announced they have jointly taken a final investment decision on Sunrise Wind, solidifying the commitment to build the project, and will now advance with some important onshore construction activities. These major milestones bring the 924 MW project one critical step closer to delivering substantial economic benefits across New York and helping the state meet its climate goals. Located approximately 30 miles (48 km) east of Montauk, New York, Sunrise Wind is expected to be the country’s largest offshore wind farm upon completion, generating enough renewable energy to power nearly 600,000 New York homes. Sunrise Wind will help New York achieve its mandate of 70 % renewable energy by 2030, while accelerating the state’s growing offshore wind workforce and supply chain. Sunrise Wind will bring USD 700 million of investment to Suffolk County and create 800 direct jobs and thousands of indirect jobs in the state. The project is anticipated to be operational in 2026. Doreen M. Harris, President and CEO at New York State Energy Research and Development Authority (NYSERDA), said: “These milestones achieved by Ørsted and Eversource on the heels of South Fork Wind entering full operation demonstrate New York’s leadership in building the US offshore wind industry with Sunrise Wind and future projects on their way to generating clean wind energy to power the grid. As the onshore supply chain work moves forward, we’ll continue to see the economic investments in communities from the Capital Region to Long Island come to fruition in the form of good-paying jobs and community benefits that are a critical part of our clean energy transition.” New York State recently selected Sunrise Wind to negotiate a 25-year contract to provide reliable green energy to the state. The project is finalising agreements with New York’s energy agency, New York State Energy Research and Development Authority (NYSERDA), on this offshore wind renewable energy certificates (OREC) contract. David Hardy, Executive Vice President and CEO of Region Americas at Ørsted, said: "New York is already home to the trailblazing South Fork Wind project, and with Sunrise Wind we’ll build on that foundation, broadening the economic benefits of offshore wind while delivering far more clean renewable power. With the federal Record of Decision in hand and our final investment decision having been made, we can continue to create hundreds of local union jobs and stand up a vibrant supply chain. We thank the Biden Administration, our state partners, and the congressional delegation for their continued leadership to advance this important project.” As previously announced, Ørsted has agreed to acquire Eversource’s 50 % ownership share of Sunrise Wind, becoming the project’s sole owner, subject to signing of an OREC contract with NYSERDA, finalisation of acquisition agreements, COP approval, and other relevant regulatory approvals. Eversource will remain contracted to lead the project’s onshore construction. For further information, please contact: Global Media Relations Investor Relations About Ørsted AttachmentsNews Source: Ritzau Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | DK0060094928 |
| Category Code: | MSCM |
| TIDM: | Orsted |
| Sequence No.: | 312112 |
| EQS News ID: | 1867971 |
| End of Announcement | EQS News Service |
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