BOSTON & HARTFORD, Conn.--(BUSINESS WIRE)--Eversource Energy (NYSE: ES) today announced that it has completed the sale of its 50 percent interest in the 132-megawatt South Fork Wind project (South Fork Wind) and the 704-megawatt Revolution Wind project (Revolution Wind) to Global Infrastructure Partners (GIP). Adjusted gross proceeds from the transaction were $745 million.
Adjusted gross proceeds from the sale were reduced by approximately $375 million as compared with the expected purchase price of approximately $1.12 billion. This reduction reflects approximately $150 million due to lower capital spending between announcing the transaction and closing, and lower proceeds of approximately $225 million related to the final terms of the sale transaction, primarily due to the delay of the commercial operations date of Revolution Wind.
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