New York’s energy agency, New York State Energy Research and Development Authority (NYSERDA), has conditionally awarded Ørsted and Eversource’s Sunrise Wind project the right to negotiate a 25-year offshore wind renewable energy certificate (OREC) agreement for an offshore wind farm with a maximum capacity of 924 MW.
The price per MWh for power generated from Sunrise Wind will be made public when negotiations have finalised. When a contract is signed, it will replace the existing OREC agreement, which was awarded to Sunrise Wind in 2019. Sunrise Wind is expected to be completed in 2026, subject to OREC negotiations, customary state and federal approvals, and to Ørsted’s final investment decision, which is expected in Q2 2024. The Sunrise Wind design has been reviewed and accepted by all relevant state agencies, and the project has secured all major supplier and project labour agreements. Final federal permits are expected this summer. As announced last month, Ørsted will take full ownership of Sunrise Wind from its current 50/50 joint venture partner Eversource, subject to the signing of the OREC agreement, entry into long-form acquisition agreements with Eversource, receipt of construction and operations plan (COP) approval, and relevant regulatory approvals.
