Daily Newsletter

24 June 2024

Daily Newsletter

24 June 2024

Sunrise Wind project offshore New York gains federal approval

The 942MW wind farm is a collaborative effort between Orsted and Eversource.

Umesh Ellichipuram June 24 2024

The US Department of the Interior's Bureau of Ocean Energy Management (BOEM) has granted the final federal approval needed for the Sunrise Wind project.

The 924MW wind farm, a collaborative effort between Orsted and Eversource, will supply renewable energy to 600,000 homes in New York.

The approval of the construction and operations plan (COP) by BOEM is a critical milestone for the Sunrise Wind project, confirming the one nautical mile turbine spacing and the construction methodology for the wind farm which is located in federal ocean waters.

The COP includes mitigation measures to safeguard marine habitats and species.

The latest development aligns with BOEM's established permitting timeline, following the issuance of its record of decision in March 2024, which marked the conclusion of the environmental review process.

The project's developers have reached these provisions in collaboration with organisations and experts.

Sunrise Wind recently finalised its agreements with the New York State Energy Research and Development Authority on the project’s 25-year offshore wind renewable energy certificate contract.

With this agreement in place, the project team is set to expedite the onshore transmission system development, with offshore construction expected to begin in the second half of 2024.

Located 30 miles east of Montauk, New York, the Sunrise Wind project is on track to be operational by 2026.

Ørsted Americas Region executive vice-president and CEO David Hardy stated: “Sunrise Wind is a centrepiece of New York’s clean energy vision, and with this final federal approval, we can officially put the construction phase in motion.

“BOEM’s approval is an important milestone not just for New York but also for America’s domestic energy sector.”

Transformers Market Overview

GlobalData's latest report offers an overview of the market trends for power and distribution transformers at the regional and country level. The power transformers market was valued at $16.70 billion in 2023, and is expected to grow at a CAGR of >7% during 2023-2028. The requirement for safe and reliable power, the rising urban population coupled with the modernization of existing power grids, and increased investments in renewable energy, besides the adoption of smart grid technology, will be the main factors aiding the growth of the market.

Transformers Market Overview

GlobalData's latest report offers an overview of the market trends for power and distribution transformers at the regional and country level. The power transformers market was valued at $16.70 billion in 2023, and is expected to grow at a CAGR of >7% during 2023-2028. The requirement for safe and reliable power, the rising urban population coupled with the modernization of existing power grids, and increased investments in renewable energy, besides the adoption of smart grid technology, will be the main factors aiding the growth of the market.

Transformers Market Overview

GlobalData's latest report offers an overview of the market trends for power and distribution transformers at the regional and country level. The power transformers market was valued at $16.70 billion in 2023, and is expected to grow at a CAGR of >7% during 2023-2028. The requirement for safe and reliable power, the rising urban population coupled with the modernization of existing power grids, and increased investments in renewable energy, besides the adoption of smart grid technology, will be the main factors aiding the growth of the market.

Transformers Market Overview

GlobalData's latest report offers an overview of the market trends for power and distribution transformers at the regional and country level. The power transformers market was valued at $16.70 billion in 2023, and is expected to grow at a CAGR of >7% during 2023-2028. The requirement for safe and reliable power, the rising urban population coupled with the modernization of existing power grids, and increased investments in renewable energy, besides the adoption of smart grid technology, will be the main factors aiding the growth of the market.

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