Eversource Energy Completes Exit of Offshore Wind Business
Eversource Energy (D/B/A) (ES)
Last eversource energy (d/b/a) earnings: 2/19 04:15 pm
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eversource.com/content/general/about/investors
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Source: Business Wire
Company Closes on the Sale of Revolution Wind and South Fork Wind to Global Infrastructure Partners BOSTON & HARTFORD, Conn.--(BUSINESS WIRE)--Eversource Energy (NYSE: ES) today announced that it has completed the sale of its 50 percent interest in the 132-megawatt South Fork Wind project (South Fork Wind) and the 704-megawatt Revolution Wind project (Revolution Wind) to Global Infrastructure Partners (GIP). Adjusted gross proceeds from the transaction were $745 million.Adjusted gross proceeds from the sale were reduced by approximately $375 million as compared with the expected purchase price of approximately $1.12 billion. This reduction reflects approximately $150 million due to lower capital spending between announcing the transaction and closing, and lower proceeds of approximately $225 million related to the final terms of the sale transaction, primarily due to the delay of the commercial operations date of Revolution Wind.“We have reached an important milestone today in our
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