Eversource joins Dong in Massachusetts offshore wind project

Denmark's Dong Energy A/S (CPH:DENERG) said today it has sold a 50% stake in its Bay State Wind project off the coast of Martha's Vineyard, Massachusetts to New England energy delivery company Eversource Energy (NYSE:ES).

The proposed offshore wind farm will be located in an area that has the potential to develop at least 2 GW of capacity, according to the announcement. The companies say first power could be delivered in the early 2020s.

Dong and Eversource plan to jointly develop, construct and operate the project in a 50:50 partnership. The Danish company will use its offshore wind expertise to lead the development and construction of the offshore generation and transmission assets, while its US partner will develop and construct the onshore transmission system.

"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," commented Samuel Leupold, executive vice president and chief executive of Dong Energy Wind Power.

Thomas Brostrom, general manager for Dong Energy Wind Power US Inc, said that water depths and wind speeds in New England are similar to those in Europe and offer attractive conditions.

In August this year, Massachusetts adopted an energy bill that requires state utilities to purchase 1.6 GW of offshore wind power by 2027. The first state-led procurement process will start in June 2017.

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