New York state and offshore wind developers Equinor and Ørsted have finalised offtake contracts for the 810MW Empire Wind 1 and 924MW Sunrise Wind projects.
The state had announced preliminary approval for the projects in February.
Once in operation in 2026, they will be the largest power generation projects in New York state in over 35 years.
The projects have a troubled history.
The Equinor and Ørsted-Eversource projects had been resubmitted to the state’s fourth offshore wind auction after withdrawing from their previous contracts, when the developers cited inflation and supply chain constraints for making the projects no longer economically viable.
New York has a goal of 9GW of offshore wind capacity by 2035.
The weighted average all-in development cost of the contracted offshore wind projects over the life of the contracts is $150.15/MWh which is on-par with the latest market prices, the state added.
Equinor's contract for Empire Wind 1 is worth $155/MWh, while Ørsted's contract for Sunrise Wind is worth $146/MWh.
Both developers had initially won power deals for their wind farms in 2019.
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