BOSTON – September 30, 2024 – Ørsted and Skyborn Renewables, a Global Infrastructure Partners (GIP) portfolio company, are now joint venture partners in the South Fork Wind and Revolution Wind offshore wind farms, following today’s closing of GIP’s acquisition of Eversource Energy’s 50-percent ownership share in the two Northeast projects.
Ørsted’s partnership with GIP pairs the U.S. and global offshore wind leader with one of the world’s largest infrastructure investors. Together, the new joint venture reaffirms the opportunity in American clean energy and positions the Northeast for continued investment, job creation, and affordable and reliable energy for decades to come.
Ørsted is leading the buildout of the American offshore wind industry with a focus on its growing Northeast hub, which includes ports, vessels, a trained workforce, a growing supply chain and much more. Extending across the United States, Ørsted’s supply chain reaches 44 states, reinvigorating local jobs in manufacturing, steel, maritime and much more.
“We’re excited for our new partnership with Global Infrastructure Partners and Skyborn on South Fork Wind and Revolution Wind, two projects that are historic as well as central to America’s energy priorities,” said David Hardy, Group EVP and CEO Americas at Ørsted. “GIP is a trusted and longstanding global Ørsted partner and brings world-class experience to the U.S. offshore wind industry. We’re pleased to work alongside GIP and the experts from Skyborn as investors and partners in building and delivering domestic and clean energy to the Northeast.”
“We are pleased to be partnering once again with Ørsted on two new offshore wind projects,” said Salim Samaha, Partner and Global Head of Energy, Global Infrastructure Partners. “Ørsted’s leadership and innovation in the renewable energy sector makes them an ideal partner, and we are proud to build upon our successful track record together. This fourth strategic collaboration underscores our shared commitment to advancing the energy transition and delivering sustainable solutions at scale.”
In partnership with GIP, Ørsted will continue its successful operations of the 132-megawatt South Fork Wind farm and finalize construction of the 704-megawatt Revolution Wind project and transition it into its operational phase. South Fork Wind is America’s first utility-scale offshore wind farm, currently powering 70,000 homes and businesses in Long Island, New York with offshore wind energy since beginning commercial operations in March 2024. Construction is well underway on Revolution Wind, which will serve 350,000 homes and businesses in Rhode Island and Connecticut, and in September celebrated the installation of its first wind turbine offshore.
While Eversource has exited its offshore wind investments, the company remains a contractor on the ongoing onshore construction scope for Revolution Wind, and a tax equity investor in South Fork Wind.
Ørsted previously acquired Eversource’s 50-percent stake in the 924-megawatt New York Sunrise Wind project, share of uncontracted offshore wind seabed (Lease 500), and key Northeast operational assets. As part of a growing Northeast hub, Ørsted has full ownership of partnerships with the Port of Providence, the Port of Davisville, and Quonset Point, all in Rhode Island, and with Connecticut's New London State Pier. Ørsted also acquired ownership of the future operations and maintenance hub in East Setauket, N.Y., and the charter agreement for the first American-built offshore wind service operations vessel.
About Ørsted
A global clean energy leader, Ørsted develops, constructs, and operates offshore and land-based wind farms, solar farms, energy storage facilities, and bioenergy plants. Ørsted was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi) and is recognized as the world’s most sustainable energy developer in the Corporate Knights Global 100 index.
In the United States, the company has approximately 800 employees and a portfolio of clean energy assets and partnerships that includes offshore wind energy, land-based wind energy, solar, battery storage and e-fuels. Ørsted is a U.S. leader in offshore wind energy with approximately 1.6 gigawatts in construction, and 3 gigawatts in development. It also operates America’s first offshore wind farm, located off the coast of Block Island, and the country’s first utility-scale offshore wind farm, South Fork Wind. Ørsted has a total U.S. land-based capacity of ~6 gigawatts across wind, solar, storage technologies and e-fuels. To learn more about the Ørsted U.S. business, visit us.orsted.com or follow the company on X (@OrstedUS), Instagram, and Facebook.
About Global Infrastructure Partners (GIP)
Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. On September 13, 2024, BlackRock issued a press release announcing that it expects to close its previously announced acquisition of GIP on October 1, 2024, subject to customary closing conditions, including the receipt of specified regulatory approvals and clearances. For more information, visit www.global-infra.com
Media Contact
Meaghan Wims
401-261-1641
mwims@duffyshanley.com