Orsted has signed an agreement to acquire the 50% of Sunrise Wind farm it doesn’t already own if the 924MW offshore project were to be successful in the ongoing New York 4 tender for capacity.

If Sunrise Wind is not successful in the solicitation, the existing OREC (Offshore Wind Renewable Energy Certificates) contract with New York’s energy agency (NYSERDA) will be cancelled per the state’s requirements, and the Danish utility’s 50/50 joint venture with its local peer Eversource will remain in place.