Eversource Energy acquires 50% ownership interest in Bay State Wind

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Eversource Energy acquires 50% ownership interest in Bay State Wind

DONG Energy is teaming up with Eversource Energy -a transmission builder in New England – who has acquired a 50% ownership interest in Bay State Wind in order to jointly develop the project.  

The proposed offshore wind farm would be located approximately 15-25 miles south of Martha’s Vineyard in an area that has the potential to develop at least 2,000 MW of electricity – enough to power one million Massachusetts homes. 

DONG Energy Wind Power U.S. Inc. and Eversource will seek to jointly develop, construct and operate the utility-scale offshore wind project in a 50-50 partnership. DONG Energy will use its market leading expertise in the offshore wind sector to lead the development and construction of the project’s offshore generation and transmission assets.  Eversource will leverage its strong transmission expertise in New England to develop and construct the onshore transmission system.

In April of 2015, DONG Energy secured newly assigned project development rights to a 300 square mile ocean area 15 miles off the coast of Martha’s Vineyard that was made available for lease by the Bureau of Ocean Energy Management (BOEM) in a competitive solicitation.  In August 2016, Massachusetts formally adopted a comprehensive energy bill that includes a first-of-its-kind mandate that state utilities purchase 1600 MW of offshore wind power by 2027. The first state-led procurement process will begin in June 2017. This represents a landmark moment for the offshore wind industry in the United States. 

DONG Energy and Eversource are committed to playing a central role in bringing their companies’ respective expertise and successes to bear in order to help the state meet this goal. The companies expect that first power can be delivered in the early 2020s. Samuel Leupold, EVP and CEO of DONG Energy Wind Power said:

“Offshore wind has great potential in the U.S., and I am very pleased that we are entering into a strategic partnership with Eversource to develop our first project in New England. Offshore wind will add to the diversity, and the security, of Massachusetts’ energy mix.”

Jim Judge, President and CEO of Eversource Energy said: 

“New England is setting the pace for a national clean energy future with its proven track record in energy efficiency and bold clean energy goals. Our partnership with DONG Energy on Bay State Wind represents a significant opportunity to help make those goals a reality and we look forward to delivering this renewable and reliable source of power to customers.”

Thomas Brostrøm, General Manager for DONG Energy Wind Power U.S. Inc. said:

“Offshore wind is a reliable home-grown energy source that can be delivered at scale to Massachusetts residents and businesses. New England’s water depths and wind speeds are similar to those in Europe and provide attractive conditions.”

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