secwatch.observer — SEC 8-K summary
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Issuer:     EVERSOURCE ENERGY (ES)
CIK:        0000072741
Form:       8-K
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0001104659-23-098977
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eversource closes $625M offshore lease sale to Ørsted; enters tax equity deal for South Fork Wind
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- Closed sale of ~175,000-acre offshore lease area to Ørsted for $625M all-cash; initial $575M received at closing.
- Executed Tax Equity Capital Contribution Agreement for South Fork Wind; Eversource to contribute ~$545M for tax equity member interest.
- Eversource expects ~$273M distribution from South Fork Wind project before its commercial operations date (late 2023).
- Remaining $50M from lease sale payable upon certain tax equity events, expected by end of Q3 2023.
- Continues process to sell 50% interest in three offshore wind projects (1,758 MW total); expects to announce details soon.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72741/000110465923098977/0001104659-23-098977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72741/000110465923098977/tm2325665d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-098977

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