Eversource completes offshore wind exit; sale proceeds $745M, expects Q3 $520M net loss

EVERSOURCE ENERGY

Sale of 50% stake in South Fork Wind (132 MW) and Revolution Wind (704 MW) to GIP for adjusted gross proceeds of $745M.
Proceeds reduced by ~$375M vs. expected $1.12B due to lower capital spending and delay of Revolution Wind commercial ops.
Aggregate net loss on offshore wind divestiture ~$520M in Q3 2024, including $370M gain on Sunrise Wind sale and higher Revolution Wind costs.
Eversource expects to record ~$360M liability, majority settled in 2026; equity issuance plan up to $1.3B unchanged.
No impact on regulated entities; Eversource now fully exited offshore wind ownership.

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