June 25, 2024

Revolution Wind

Eversource Announces $500M Cut in Connecticut Investments
Eversource announced plans to reduce its investments in Connecticut by about $500 million over the next five years because of the “negative regulatory environment” at the Public Utilities Regulatory Authority.
South Fork Wind
Eversource Finds OSW Buyer, Takes $1.95B Hit for 2023
Eversource finalized its long-running attempt to sell off its offshore wind assets, but not soon enough to avoid a $1.95 billion impairment for 2023.
Revolution Wind
Another Federal Lawsuit Seeks to Invalidate OSW Approvals

A coalition of offshore wind opponents sued to overturn federal approval of the South Fork Wind and Revolution Wind projects.

Eversource Takes Hit of up to $1.6B on Offshore Wind

Eversource will take a fourth-quarter 2023 impairment of up to $1.6 billion due to the ongoing struggles of its offshore wind joint ventures with Ørsted.

South Fork Wind
Eversource Closer to Exiting OSW Venture with Ørsted
Eversource reported it's moving closer to the sale of its share of an offshore wind joint venture, and has substantially completed negotiations with a potential buyer.
Revolution Wind
BOEM Approves Revolution Wind off New England Coast
Revolution Wind has become the fourth utility-scale U.S. offshore wind project to gain federal approval. 
Rhode Island Energy Rejects Revolution Wind 2 Proposal
Rhode Island Energy explained that the power purchase agreement proposed would be too expensive for consumers, vows to continue efforts to bring offshore wind to state.
Major Fishery, Visual Impacts Expected from Revolution Wind
The BOEM environmental impact statement predicts Revolution Wind will have major negative impacts on fisheries, views from shore and other metrics.
Eversource Begins Its Exit from OSW Development
Eversource began its anticipated departure from the offshore wind sector, announcing it would sell its interest in an uncontracted New England lease to Ørsted.
Revolution Wind
Offshore Wind Power Boosts Revenue for Ørsted
Ørsted, the largest OSW developer in the world, reported that earnings from its offshore wind business hit an all-time high in the first quarter of 2023.

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