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Dawn Wind is projected to complete by 2026, pending OREC negotiations, customary state and federal approvals, and Ørsted’s closing funding choice, anticipated in Q2 2024. Ørsted will assume full possession of Dawn Wind from its present 50/50 three way partnership associate Eversource, pending the signing of the OREC settlement, execution of long-form acquisition agreements with Eversource, COP approval, and related regulatory clearances.
The design for Dawn Wind has been comprehensively reviewed and authorised by related state companies. Moreover, the venture has efficiently finalized all important provider and venture labor agreements. The issuance of ultimate federal permits is anticipated this summer season.
Ørsted is establishing an offshore wind cluster alongside the US Northeast coast, that includes South Fork Wind (130 MW underneath building), Revolution Wind (704 MW underneath building), and Dawn Wind (924 MW). This initiative encompasses port property, a talented workforce, and provide chain partnerships. The northeast hub holds strategic significance for ongoing and future tasks, aiding Ørsted in differentiation and threat mitigation for potential bids and endeavors.
David Hardy, Government Vice President and CEO of Area Americas at Ørsted, mentioned:
“New York 4 is testomony to Governor Hochul’s management on clear vitality and the state’s capability to reply nimbly to the unprecedented macroeconomic developments that essentially modified the economics of the primary wave of US offshore wind tasks and threatened the state’s transition to scrub vitality. With as we speak’s award at a bid value degree reflecting the present element and financing prices, Dawn Wind is effectively positioned to ship clear vitality to New York.
“We’re proud to be New York’s offshore wind chief. Quickly, we’ll full the development of South Fork Wind, the state’s first offshore wind farm, and with Dawn Wind, we’ll ship additional financial advantages and native jobs to the state, whereas serving to New York obtain its purpose of reaching 70 % renewable vitality by 2030.”, he additional added.
