secwatch.observer — SEC 8-K summary
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Issuer:     EVERSOURCE ENERGY (ES)
CIK:        0000072741
Form:       8-K
Filed at:   2024-01-08T23:59:59+00:00
Accession:  0001104659-24-002248
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eversource expects $1.4-1.6B impairment on offshore wind interests; exclusive sale talks advanced
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- After-tax impairment charge of $1.4B-$1.6B expected in Q4 2023 for offshore wind investments.
- $800M-$900M impairment across three projects due to supply chain and construction cost increases.
- Additional $600M-$700M impairment for Sunrise Wind after NY rejected OREC contract amendment.
- In advanced exclusive negotiations with a leading global private infrastructure investor to sell 50% ownership.
- ITC adder value of $400M from Inflation Reduction Act expected to be realized in sale price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72741/000110465924002248/0001104659-24-002248-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72741/000110465924002248/tm242419d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-002248

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