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Danish renewable energy giant Ørsted announced on Monday that it has completed the sale of a 25 percent stake in the 1,100 MW Ocean Wind project outside New Jersey to U.
S.
-diversified energy company Public Service Enterprise Group Inc (PSEG).
The buyer, PSEG, has been negotiating
with the Danish group for more than a year.
Last December, a final agreement
was reached on Ørsted.
But the parties did not disclose financial details
about the deal.
The Ocean Wind project will be built 15 miles off the southern coast of New Jersey and, once operational, will be able to generate electricity
for 500,000 local homes a year.
GE Renewables will supply its 12 MW Haliade-X turbine for the mega project, while the agreement signed in early 2021 has the option to use 13 MW wind turbines
.
Once completed, it will be New Jersey's first offshore wind farm
.
In June 2019, Ørsted won the status of Preferred Bidder in New
Jersey's first offshore wind tender.
According to the New Jersey Public Utilities Authority (NJBPU), the price of the company's first-year offshore wind renewable energy credit (OREC) is $98.
10 per kilowatt-hour (€82.
32).
The Danish energy giant noted that the stake sale will not affect its financial and investment forecasts
for the year.
Danish renewable energy giant Ørsted announced on Monday that it has completed the sale of a 25 percent stake in the 1,100 MW Ocean Wind project outside New Jersey to U.
S.
-diversified energy company Public Service Enterprise Group Inc (PSEG).
The buyer, PSEG, has been negotiating
with the Danish group for more than a year.
Last December, a final agreement
was reached on Ørsted.
But the parties did not disclose financial details
about the deal.
The Ocean Wind project will be built 15 miles off the southern coast of New Jersey and, once operational, will be able to generate electricity
for 500,000 local homes a year.
GE Renewables will supply its 12 MW Haliade-X turbine for the mega project, while the agreement signed in early 2021 has the option to use 13 MW wind turbines
.
Once completed, it will be New Jersey's first offshore wind farm
.
In June 2019, Ørsted won the status of Preferred Bidder in New
Jersey's first offshore wind tender.
According to the New Jersey Public Utilities Authority (NJBPU), the price of the company's first-year offshore wind renewable energy credit (OREC) is $98.
10 per kilowatt-hour (€82.
32).
The Danish energy giant noted that the stake sale will not affect its financial and investment forecasts
for the year.
