Ørsted’s previously announced acquisition of partner Eversource Energy’s share of a seabed acreage in the northeastern United States has been finalized, according to an announcement from Eversource on Thursday evening.

The deal was announced at the end of May and gives Ørsted full ownership of a seabed area of 756 km2 that has been earmarked for offshore wind development and carries a development capacity of up to 4GW. The purchase price is USD 625m.

Eversource and Ørsted have also completed an agreement on wind farm project South Fork Wind.

As part of the deal in May, Ørsted announced an agreement with Eversource to contribute as a ”tax equity counterparty” to South Fork Wind, which is essential to bring the offshore wind farm on stream to deliver green power later this year.

And this has now been finalized, according to Eversource.

The contribution to Eversource’s new tax equity is expected to be approximately USD 545m, the company informs.

(Translated using DeepL with additional editing by Kristoffer Grønbæk)