Ørsted acquires PSEG’s equity share in U.S. offshore wind project

Wind Industry Profile of

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.   “PSEG has been a valuable partner as we’ve advanced Ocean Wind 1 to this point, and as we’ve successfully advanced our offshore wind vision in the US. With a well-established presence in the US,... ... More: Official Press Release Ørsted

Keywords:

Ørsted, PSEG, Ocean Wind 1, wind farm, offshore, share, New Jersey, USA, infrastructure, partner