Ørsted and Eversource Energy have signed an agreement under which Ørsted will acquire 50 per cent interest in the uncontracted offshore wind lease area in the US the two companies currently own together. Eversource is also looking at selling its 50 per cent stake in the three jointly owned contracted offshore wind projects: South Fork Wind, Revolution Wind and Sunrise Wind.

The agreement, worth USD 625 million, will see Ørsted becoming the full owner of the Lease Area OCS-A 500 (Lease 500), which contains approximately 187,000 uncontracted acres of seabed and has a potential capacity of up to 4 GW.