secwatch.observer — SEC 8-K summary
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Issuer:     EVERSOURCE ENERGY (ES)
CIK:        0000072741
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001104659-24-022555
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eversource to sell 50% stake in South Fork & Revolution Wind to GIP for ~$1.1B
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- ~$1.1B cash proceeds at closing expected mid-2024; proceeds to repay parent debt.
- 132-MW South Fork Wind & 704-MW Revolution Wind; retains tax equity in South Fork, will contractor for Revolution onshore.
- Shares first ~$240M of Revolution Wind cap-ex overruns equally with GIP; bears 100% of overruns above cap.
- Requires FERC, NY PSC, antitrust approvals; other conditions including credit rating above BBB-/Baa3.
- Separate agreement to sell 50% of Sunrise Wind to Ørsted for undisclosed amount, contingent on NY RFP award.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72741/000110465924022555/0001104659-24-022555-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72741/000110465924022555/tm246024d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-022555

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