Ørsted to acquire PSEG’s equity share in Ocean Wind 1

Ørsted, a Danish energy company, has agreed to acquire PSEG’s (Public Service Enterprise Group) 25 per cent equity stake in the Ocean Wind I offshore wind project in the US. The 1.1 GW offshore project, which is located about 24 km from southern New Jersey, will now be 100 per cent owned by Ørsted as part of the agreement. No financial details have been disclosed. 

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