South Fork Wind
Eversource Energy has formally ended its costly foray into offshore wind development, finalizing the sale of its last two offshore assets and predicting a half-billion-dollar loss as a result.
Activists, ISO-NE officials, and state representatives from across New England convened in New London, Conn., to discuss the benefits of offshore wind to the region’s power system.
Eversource announced plans to reduce its investments in Connecticut by about $500 million over the next five years because of the “negative regulatory environment” at the Public Utilities Regulatory Authority.
All of South Fork Wind’s turbines are sending electricity to the New York power grid.
Eversource finalized its long-running attempt to sell off its offshore wind assets, but not soon enough to avoid a $1.95 billion impairment for 2023.
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