Equinor has secured $3 billion to finance New York’s Empire Wind 1 offshore wind farm, which will provide power for 500,000 homes when it comes online in 2027. It’s set to become the first offshore wind farm to connect directly to New York City’s grid.
Equinor’s January 2 announcement of the close at the end of December officially greenlights the 810-megawatt (MW) Empire Wind 1, significantly boosting New York’s offshore wind sector and the broader US offshore wind industry.
That’s despite President-elect Donald Trump saying he intends to scrap offshore wind with an executive order on “day one.” However, nothing tangible has yet to come out of that campaign talk, and Equinor and its lenders are clearly confident that Empire Wind 1 will be around a lot longer than Trump will.
Equinor writes, “Due to strong interest from lenders, the Empire Wind 1 project was…
