Revolution Wind News


Eversource Energy to Sell Stake in Two Offshore Wind Projects

Feb 13, 2024

Eversource Energy on Tuesday said it will sell its stake in two energy projects in a $1.1 billion deal that helps the New England-based power company exit the troubled offshore wind business.Eversource said it would sell its 50 percent share…

Ørsted Withdraws from Maryland Offshore Wind Power Deals

Jan 26, 2024

Following consultation with the State of Maryland, Ørsted has withdrawn from the Maryland Public Service Commission Orders approving the Skipjack 1 and 2 offshore wind projects.Ørsted said it would reposition Skipjack Wind, a combined 966MW…

Ørsted to Acquire 100% of Sunrise Wind

Jan 24, 2024

Ørsted has signed an agreement with Eversource to acquire Eversource’s 50% share of Sunrise Wind, a 924 MW offshore wind farm which would deliver power to New York.The acquisition is subject to the successful award of Sunrise Wind in the ongoing New York 4 solicitation for offshore wind capacity…

Correl Group Gets Inter-Array Cable Job at US Offshore Wind Farm

Jan 24, 2024

UK-based Correll Group has secured a contract with Greek subsea cable maker Hellenic Cables for the inter-array cabling works at the Revolution Wind offshore wind farm.Correll Group’s scope of work will include the termination and testing of…

Eversource Energy Expects Up to $1.6B Offshore Wind Impairment Fee

Jan 09, 2024

Eversource Energy has informed about the expected impairment charge of up to $1.6 billion related to three offshore wind projects in the United States.The impairment the energy utility Eversource Energy expects is related to three projects it owns as part of two partnerships with Ørsted…

US Offshore Wind Poised for 2024 Success After Turbulent 2023

Dec 26, 2023

The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs.The offshore wind industry is expected to play a major role in helping several states and U…

US Gives Final Nod to Rhode Island's $1.5 Billion Offshore Wind Farm

Dec 07, 2023

The U.S Federal Permitting Improvement Steering Council on Thursday approved the construction of a $1.5 billion offshore wind farm off the coast of Rhode Island.The project, Revolution Wind, is run by Danish company Orsted and U.S.-based Eversource…

The $1 Billion Offshore Wind Prize for US Shipyards

Nov 27, 2023

The U.S. offshore wind market presents a $1 billion long-term opportunity to builders of crew transfer vessels (CTV) and service operation vessels (SOV) that will support both wind farm construction and long-term operations and maintenance.…

Ship Shortage Dealt Death Blow to Orsted's New Jersey Offshore Wind Hopes

Nov 05, 2023

Danish energy firm Orsted's shock decision to cancel two offshore wind farms off New Jersey this week was based in large part on big delays securing the ship it needed to build the project, company officials said.The world's biggest offshore wind…

Orsted Records $4B in Impairments, Stops Development of Some US offshore Wind Projects

Nov 01, 2023

Denmark's Orsted said on Wednesday it had recorded a 28.4 billion Danish crowns ($4.03 billion) impairment charge for the first nine months of 2023, and that it will cease work on its U.S. offshore wind projects Ocean Wind 1 and 2.The world's…

Offshore Wind Developers Likely to Cancel Some Contracts After NY Decision

Oct 19, 2023

Developers in the U.S. offshore wind industry will likely cancel some power sales contracts in New York after the state last week denied passing on more of the costs to consumers, but major projects off Massachusetts and Rhode Island are set to start up later this year…

Ljungstrӧm to Provide Specialized Steelwork for New Jersey Offshore Wind Farm

Sep 21, 2023

Steel component provider Ljungstrӧm has signed a contract with Riggs Distler & Company, Inc. to provide specialized structural steelwork for an offshore wind project. Ocean Wind I, New Jersey's first offshore wind project developed by the Danish offshore wind farm developer Ørsted…

FACTBOX-US Offshore Wind Projects Facing Inflation Headwinds

Sep 12, 2023

The U.S. has no large-scale commercial wind farms in operation today, but President Joe Biden's administration aims to have 30 gigawatt (GW) installed by 2030 to help decarbonize the power sector and revitalize domestic manufacturing.The federal…

Eversource Energy Completes $625M Offshore Wind Lease Sale to Ørsted

Sep 08, 2023

Eversource Energy has sold the uncommitted lease area of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Danish offshore wind farm developer Ørsted for $625 million in an all-cash transaction…

Orsted Anticipates $730 Million Impact on US Portfolio

Aug 29, 2023

Denmark's Orsted, the world's No. 1 offshore wind farm developer, said on Wednesday it anticipates impairments of up to 5 billion Danish crowns ($729.78 million) on its U.S. portfolio, as there is an increasing risk in its suppliers' ability to deliver on their commitments…

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