Ørsted to acquire PSEG’s equity share in Ocean Wind 1
Ørsted A/S (Orsted)
Ørsted has signed an agreement to acquire Public Service Enterprise Group’s (PSEG) 25 % equity stake in the 1,100 MW offshore wind energy project Ocean Wind 1 located approx. 24 km off the coast of southern New Jersey in the US. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1.
As Ocean Wind 1 continues its planning and development, Ørsted will ensure the project delivers affordable energy to New Jersey, while providing economic opportunity across the state and region. PSEG will support onshore infrastructure construction.
In the US, Ørsted has approx. 650 employees and a growing portfolio of clean energy assets and partnerships, which includes offshore wind energy, onshore wind energy, solar PV, storage technologies, and e-fuels. Ørsted holds the top position in offshore wind energy with approximately 5 GW in development and operates America’s first offshore wind farm, located off the coast of Block Island in Rhode Island. Ørsted has a total US land-based capacity of 5 GW across wind, solar PV, storage technologies, and e-fuels.
For further information, please contact:
News Source: Ritzau
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