Equinor, Ørsted secure final offtakes for NY offshore wind.

Equinor and Ørsted have finalized purchase and sale agreements with the New York State Energy Research and Development Authority (NYSERDA) for two offshore wind projects totaling 1.734GW. The Empire 1 project, with a capacity of 810MW, and the Sunrise Wind project, with a capacity of 924MW, were awarded conditional agreements earlier this year. The projects received indexed OREC strike prices for the duration of the 25-year contract. Both projects will invest in disadvantaged communities, support minority-owned businesses, and enhance the workforce. The approvals from the Bureau of Ocean Energy Management and the New York State Public Service Commission allow the developers to begin construction and plan for project financing. [Extracted from the article]

Copyright of IJGlobal is the property of Euromoney Trading Limited and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)