secwatch.observer — SEC 8-K summary
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Issuer:     EVERSOURCE ENERGY (ES)
CIK:        0000072741
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0001104659-24-104387
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72741/000110465924104387/0001104659-24-104387-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72741/000110465924104387/tm2425236d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-104387

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