Ørsted’s U.S. operations and New Jersey’s Public Service Enterprise Group (PSEG) announced a change in the ownership structure for one of the first of.
Danish energy company Orsted announced Wednesday that it is buying out its U.S. partner to take full control of a controversial wind energy farm proposed off the South Jersey coast.
Orsted and New Jersey-based Public Service Enterprise Group entered into a partnership in 2020 to jointly develop the Ocean Wind 1 project, but now PSEG is selling its 25 percent stake to Orsted. Terms of the deal were not announced.
Ørsted has signed an agreement to acquire Public Service Enterprise Group’s (PSEG) 25 % equity stake in the 1,100 MW offshore wind energy project Ocean Wind 1 located approx. 24 km off the coast of southern New Jersey in the US. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1.
By Dominic Chopping Danish renewable-energy company Oersted AS said Wednesday that it has agreed to acquire Public Service Enterprise Group s 25% equity stake in the 1,100 megawatt. | January 18, 2023