Orsted and Eversource Take Final Investment Decision on Revolution Wind

Providence, R.I., October 31, 2023 – Joint venture partners Ørsted and Eversource have taken final investment decision (FID) on Revolution Wind, Rhode Island and Connecticut's first utility-scale offshore wind farm. This FID results in the joint venture’s official commencement of the full scope of construction of the 704-megawatt offshore wind project.

Revolution Wind will create thousands of direct, indirect, and induced jobs, as well as permanent operations and maintenance jobs across both states. Once complete, the 704-megawatt Revolution Wind will deliver 400 megawatts of clean, affordable offshore wind power to Rhode Island and 304 megawatts of the same to Connecticut, powering more than 350,000 homes across the two states and helping the states reach their ambitious climate goals.

“Revolution Wind is key to Rhode Island and Connecticut’s clean energy future and the growth of the region’s blue economy,” said David Hardy, Group EVP and CEO Americas at Ørsted. “With our final investment decision, we’re solidifying our commitment to building this second offshore wind farm for Rhode Island, and the first offshore wind project for Connecticut. We’re already making major investments in local union jobs and port infrastructure to support this project, and that effort will expand in the coming months.”

“With this joint final investment decision, we are ready for the start of the full scope of construction for Revolution Wind,” said Joe Nolan Chairman, President, and Chief Executive Officer of Eversource Energy. “We’re ramping up onshore construction of the transmission system of this critical clean energy project, which will deliver enough renewable energy to power more than 350,000 homes in both Rhode Island and Connecticut. We’re proud to be part of the Revolution Wind partnership and to deliver clean renewable energy to meet the commitments for each state’s respective energy goals.”

Revolution Wind received its Record of Decision in August from the U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM), paving the way for the project to begin onshore construction. Revolution Wind expects to receive approval from BOEM on its construction and operations plan in November, the final approval required in the agency’s review of the project. The project is expected to be operational in 2025.