Latham & Watkins Advised Ørsted in Transaction to Take Full Ownership of 924MW Sunrise Wind

Ørsted announced that it has completed the acquisition of Eversource’s 50% share of Sunrise Wind, a 924 MW offshore wind farm located off the coast of New York. Ørsted has assumed full ownership of the project, which has all federal permits in place and recently signed an OREC (offshore wind renewable energy certificates) contract with New York’s energy agency, NYSERDA, for 25 years. When completed Sunrise Wind is expected to be one of the largest offshore wind projects in the US.

Latham & Watkins LLP represented Ørsted in the transaction with a deal team led by Washington, D.C./Houston partner Ethan Schultz, New York partner Eli Katz and San Diego counsel Seth Richardson, with M&A associates Patrick Loeffler, Catie English, and Nate Gelfand-Toutant, and project development and finance associate Tanya Khiatani. Advice was also provided on tax matters by Chicago associate Michael Zucker; on energy regulatory matters by Washington, D.C. partner Natasha Gianvecchio and Washington, D.C. counsel James Blackburn, with associates Bruce Johnson and Sam Wong; and on environmental matters by Washington, D.C. partner Janice Schneider.