New York signs contracts for two wind farms
Both projects were first awarded in 2019 as part of NYSERDA’s first offshore wind solicitation and were later re-awarded.
Image for illustration purposes.
USA, New York: The New York State Energy Research and Development Authority (NYSERDA) has finalised its contracts with the winners from the state’s fourth offshore wind solicitation, the 924 MW Sunrise Wind project by Ørsted A/S and Eversource Energy, and the 810 MW Empire Wind 1 by Equinor ASA. Both projects were first awarded in 2019 as part of NYSERDA’s first offshore wind solicitation and were later re-awarded.
Both have already completed most federal and state permitting milestones and are expected to be in operation in 2026. The weighted average all-in development cost of the projects over the life of the contracts is $150.15 per MWh. Sunrise Wind onshore construction is well underway, and it achieved final investment decision in March.
The purchase and sale agreement (PSA) between NYSERDA and Equinor includes a strike price of $155.00 per MWh. Equinor hopes to achieve financial closing by end-2024 and bring in a partner in order to reduce financial exposure. A final building permit for the scheme was awarded last month.
Originated by Equinor and BP Plc, the 57-turbine Empire Wind 1 will be installed in a federal lease area roughly 13 miles east of Long Island. The project will be built only by Equinor as it parted ways with BP earlier this year.
Source: Renewables Now
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