Equinor's Empire Wind 1 and Orsted's Sunrise Wind secure contracts in New York’s offshore wind projects
New York State Energy Research and Development Authority (NYSERDA) has conditionally awarded significant offshore wind projects, according to the company's release. The Empire Wind 1 project, spearheaded by Equinor, and the Sunrise Wind project, a collaboration between Ørsted and Eversource, have emerged as conditional winners in New York’s fourth offshore wind solicitation, marking a pivotal moment in the state’s climate and energy agenda.
Equinor’s Empire Wind 1 is set to deliver 810 megawatts (MW) of renewable energy, aiming for its first power delivery to New York by 2026.
Following the award, Equinor and NYSERDA will negotiate an Offshore Wind Renewable Energy Certificate (OREC) Purchase and Sale Agreement, with contract execution slated for the second quarter of 2024. This development comes on the heels of Equinor announcing a strategic swap transaction with bp, underscoring the project’s significance in Equinor’s renewable portfolio.
Simultaneously, Ørsted and Eversource's Sunrise Wind project, scheduled for completion in 2026, has been selected to negotiate a 25-year OREC agreement for its up to 924 MW offshore wind farm.