New York has endorsed the biggest-ever deals for offshore wind power in U.S. history, a key a part of the state’s plan to get all of its energy from emissions-free sources by 2040.
Governor Andrew Cuomo granted contracts for two projects off Long Island that can total 1,700 megawatts. Equinor ASA and a joint venture between Denmark’s Orsted A/S and Massachusetts based Eversource Energy was chosen to build the farms, which can provide enough power to light up a million homes.
Cuomo was relying on the wind projects to realize the most dynamic clean energy purpose in the U.S. and signed the state’s 100% renewable energy aim into law proper after asserting the wind contracts. New York’s transcendent plan is to get enough turbines erected off its shores to generate 9,000 megawatts by 2035.
The contracted wind farms will likely be accomplished by 2024, he stated. Based mostly on value estimates from BloombergNEF, the projects could also be valued at more than $5 billion.
The Orsted-Eversource joint venture, Sunrise Wind, will present 880 megawatts from a site about 30 miles (48 kilometers) east of Montauk Point — adjoining to the South Fork Wind Farm and Revolution Wind projects the two corporations are also collectively developing. Equinor will produce 816 megawatts from its Empire Wind venture, about 20 miles south of Long Island, east of the Rockaways.
Shares of Springfield, Massachusetts-based Eversource attained 1.3% to a record $78.40 on the close in New York.
The development will start in the early 2020s pending permits, and We have to go flying out of the gates to have service by 2024, mentioned Thomas Brostrom, CEO of Orsted Americas. Siemens Gamesa Renewable Energy SA is about to supply the turbines for the Orsted-Eversource project, the company stated in a press release.