secwatch.observer — SEC 8-K summary
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Issuer:     EVERSOURCE ENERGY (ES)
CIK:        0000072741
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0001104659-23-064664
Event type: m_and_a
Sentiment:  negative
Materiality: 0.80
Item codes: 2.06, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eversource sells offshore lease interest to Ørsted for $625M; expects $220M-$280M impairment
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- Agreed to sell 50% interest in 175,000-acre uncommitted lease area to Ørsted for $625M cash; close expected Q3 2023.
- Will use portion of proceeds to provide tax equity for South Fork Wind project; commercial operation expected late 2023.
- Continuing sale process for 50% interest in three contracted offshore wind projects (1,758 MW); announcement expected by end of June.
- Q2 2023 after-tax impairment charge estimated at $220M-$280M due to lower sale values; no impact on cash flows or customers.
- Reaffirmed FY2023 non-GAAP EPS guidance $4.25-$4.43 and long-term EPS growth rate upper half of 5-7% from 2022 base $4.09.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72741/000110465923064664/0001104659-23-064664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72741/000110465923064664/tm2316963d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-064664

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