Eversource and Ørsted Announce Connecticut Economic Development Commitments and Community Contributions

HARTFORD, Conn. and BOSTON, Mass. – Developers of Connecticut’s first offshore wind farm, Eversource and Ørsted, today announced their economic development commitments and community contributions as part of their Constitution Wind project bid, which was submitted to the state in late September in response to a Request for Proposals (RFP) for offshore wind energy generation.

Constitution Wind’s economic development commitments will strategically invest in local port infrastructure for direct use by the offshore wind industry, renew the economically distressed City of New London, catalyze regional economic activity, including supply chain development, develop an offshore wind workforce from local skilled labor, and advance climate mitigation and resiliency.

If selected in the current RFP, Constitution Wind will make more than $100 million in direct financial commitments to benefit Connecticut families, workers, and communities, including:

• Eastern CT Small Business Loan Fund, Southeastern CT Enterprise Region (seCTer)
• CT Offshore Wind Scholarships for community college students 
• Building Pathways Pre-Apprenticeship program, CT United Labor Agency 
• Research and environmental monitoring, UConn Avery Point and Mystic Aquarium 
• Energy efficiency improvements for low-income New London County residents, Thames Valley Community Action Agency 

Eversource and Ørsted have also committed to invest $57.5 million for upgrades to New London State Pier, an underutilized state asset, to accommodate the industry and create a world-class offshore wind staging hub in Connecticut.

“We are delivering unmatched investments into Connecticut that will support Connecticut workers and drive economic activity and future growth while also helping the state meet its recently strengthened climate change mandates,” said President of Ørsted North America and CEO of Ørsted U.S. Offshore Wind Thomas Brostrøm. “Following up on the selection of our Revolution Wind project and our investment to transform New London State Pier into a world-class offshore wind center, our proposed Constitution Wind project will be delivered by the industry’s leading experts to ensure the project is achievable, sustainable and successful for Connecticut.”

“Through our four years of project development and outreach, there is great enthusiasm for offshore wind from Connecticut residents, businesses, and communities who recognize the economic benefits this new industry will bring to our shores,” said Eversource Executive Vice President for Enterprise Energy Strategy and Business Development Lee Olivier. “We look forward to being a catalyst for Connecticut’s transition to clean, affordable, offshore wind energy while significantly supporting the communities where we live and work.”

In addition to the direct economic development commitments, the local Constitution Wind project work, which includes the pre-assembly and load out of wind turbines and secondary steel fabrication, is an additional $143 million investment in the state.

Constitution Wind included multiple project proposals that offer Connecticut flexibility in selecting its next offshore wind project. The project supports Connecticut’s requirement that 40 percent of the state’s electricity comes from renewable sources by 2030. With more than 5 gigawatts of power plants at risk to retire over the next decade, Constitution Wind will replace lost capacity and diversify the state’s power sources with clean, affordable energy.

Drawing from Ørsted’s unmatched record of developing 25 offshore wind farms around the globe on time and on budget, and Eversource’s more than 100-year presence in the Northeast, industry-leading financial strength, and regional transmission development expertise, Constitution Wind brings unparalleled differentiators to its bid including a four-year project maturity, long-term engagement with marine life and fisheries, and substantial investment in Connecticut.

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About Constitution Wind

Constitution Wind is a proposed offshore wind project located 65 miles off the coast of New London, Connecticut that will have the capacity to power up to half a million homes.

The project is a significant distance from coastal and residential communities and virtually unnoticeable to the state’s residents and beachgoers.

In development since 2015, Constitution Wind offers unparalleled maturity and community stakeholder engagement and is based on a rigorous evaluation of the work being led by Ørsted and Eversource’s team of industry-leading experts with unmatched experience.

Constitution Wind represents a partnership between Eversource and Ørsted, which combines Eversource’s more than 100 year presence in the Northeast, industry-leading financial strength, and regional transmission development expertise with Ørsted’s world-class offshore wind development capability having built the world’s first, the world’s largest, and the U.S.’s first offshore wind farms.

About Eversource

Eversource (NYSE: ES) transmits and delivers electricity and natural gas and supplies water to approximately 4 million customers in Connecticut, Massachusetts and New Hampshire. Recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization Ceres, Eversource harnesses the commitment of its more than 8,000 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. For more information, please visit the company’s website (www.eversource.com) and follow along on Twitter (@EversourceCorp) and Facebook (facebook.com/EversourceEnergy). For more information on water services, visit www.aquarionwater.com.

About Ørsted U.S. Offshore Wind

Ørsted U.S. Offshore Wind delivers clean, renewable energy along the U.S. Eastern Seaboard. It operates the Block Island Wind Farm, America’s first offshore wind farm, and has been awarded over 2,900 megawatts of capacity through six projects. It is jointly headquartered in Boston, Massachusetts and Providence, Rhode Island and employs more than 150 people.

About Ørsted

The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore and onshore wind farms, bioenergy plants and provides energy products to its customers. Headquartered in Denmark, Ørsted employs 6,500 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2018, the group’s revenue was DKK 76.9 billion (EUR 10.3 billion). For more information on Ørsted, visit orsted.com or follow us on Facebook, LinkedIn, Instagram and Twitter.