Ørsted and Public Service Enterprise Group (PSEG) announced they will enter into exclusive negotiations for PSEG to potentially become an equity investor in one of Ørsted’s offshore wind projects.

Subject to negotiations toward a joint venture agreement, advanced due diligence and any required regulatory approvals, PSEG would acquire 25% of Ocean Wind.

Ørsted’s Ocean Wind is a 1,100 MW offshore wind project to be located 15 miles off the coast of Atlantic City. Subject to permitting and final investment decision, Ocean Wind is expected to be commissioned in 2024.

Tags:
PSEG   M&A   Offshore wind   Ørsted  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
FT: Mitsubishi-Backed Retail Supplier 'Prepares Bid' For International Retail Supplier With U.S. Arm
Shell Acquiring 250,000 Customers From U.K. Supplier;' Octopus Acquiring 580,000 Customers
UK Retail Supplier With US Affiliate In Talks To Secure 'New Funding'; Wholesale Prices Challenge
NRG To Trim Costs, Reviews Retail Pricing Structure After Direct Energy Acquisition '
PSEG to Acquire 25% Ownership Interest in Ocean Wind