TECHNOLOGY
Offshore Wind Deals
US offshore wind transactions — federal lease awards, state OREC procurements, project financings, and the M&A reshuffles that follow each phase shift.
22
Tracked Deals
31.1 GW
Total Capacity
$13.00B
Disclosed Value
2023–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Oct 31, 2023 | Ocean Wind 1 (1,100 MW) + Ocean Wind 2 (1,148 MW) offshor… Ørsted → New Jersey ratepayers (NJ BPU OREC) | 2.2 GW | $4B impairment (Ocean Wind 1 alone $2.8B) |
| Feb 22, 2024 | Coastal Virginia Offshore Wind (CVOW) — 2,600 MW offshore… Dominion Energy → Stonepeak Infrastructure Partners | 2.6 GW | $2.6B (50% stake) |
| Mar 24, 2026 | Coastal Virginia Offshore Wind (CVOW) — First Commercial … Dominion Energy → Dominion Energy Virginia (regulated utility) | 2.6 GW | 1.5B |
| Oct 25, 2023 | Vineyard Wind 1 — 800 MW offshore wind, ~15 miles off Mar… Avangrid + Copenhagen Infrastructure Partners (CIP) JV → J.P. Morgan, Bank of America, Wells Fargo (tax equity) | 800 MW | $1.2B (largest single-asset tax equity ever) |
| Mar 23, 2026 | TotalEnergies US Offshore Wind Lease Exit — OCS-A 0538 (N… TotalEnergies SE | — | $928,333,333 |
| Mar 23, 2026 | Attentive Energy (NY Bight, OCS-A 0538) + Carolina Long B… TotalEnergies | 4.0 GW | $928M reimbursement to TotalEnergies |
| Feb 12, 2024 | Eversource 50% stake in South Fork Wind (132 MW, off Long… Eversource Energy → Global Infrastructure Partners (GIP/BlackRock) | 836 MW | $745M (revised down from $1.1B initial) |
| Sep 7, 2023 | Eversource 50% stake in ~175,000 acres of uncommitted Nor… Eversource Energy → Ørsted | — | $625M |
| Jan 3, 2024 | Empire Wind 2 — 1,260 MW offshore wind, OCS-A 0512 lease … Equinor + bp (Empire Wind partners) → NYSERDA (terminated) | 1.3 GW | $250M EPC contract terminated |
| Jan 25, 2024 | Sunrise Wind — 924 MW offshore wind, ~30 miles east of Mo… Eversource Energy → Ørsted | 924 MW | $152M (revised from $230M at signing) |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | New Jersey ratepayers (NJ BPU OREC) | 3 | $4.00B |
| 2 | Ørsted | 2 | $777M |
| 3 | NYSERDA | 2 | $152M |
| 4 | Massachusetts EDCs | 2 | $1.26B |
| 5 | Equinor | 1 | — |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Eversource Energy | 3 | $1.52B |
| 2 | Dominion Energy | 2 | $4.10B |
| 3 | Ørsted (operator) | 2 | $897M |
| 4 | Talen Energy | 1 | — |
| 5 | Equinor | 1 | — |
Top Legal Counsel
| # | Firm | Deals |
|---|---|---|
| 1 | Kirkland & Ellis | 1 |
Technology Mix
Deal Type Mix
- Power Purchase & Offtake11
- Project & Portfolio M&A5
- Project Finance2
- Regulatory & Permits2
- Corporate M&A1
Activity by Year
Recent Deals
Latest 10- Coastal Virginia Offshore Wind (CVOW) — First Commercial Power — 2,600 MW pro…Mar 24, 2026
Project & Portfolio M&A · VA · 1.5B · 2,600 MW
- Attentive Energy (NY Bight, OCS-A 0538) + Carolina Long Bay (OCS-A 0545) — 2 …Mar 23, 2026
Regulatory & Permits · NC, NY · $928M reimbursement to TotalEnergies · 4,000 MW
- TotalEnergies US Offshore Wind Lease Exit — OCS-A 0538 (New York Bight) + OCS…Mar 23, 2026
Regulatory & Permits · NC, NJ, NY · $928,333,333
- Revolution Wind — 700 MW offshore wind, offshore Rhode IslandMar 16, 2026
Project Finance · RI · 700 MW
- Vineyard Wind 1 — 800 MW offshore wind, offshore Massachusetts (62 turbines)Mar 14, 2026
Project Finance · MA · 800 MW
- Empire Wind 1 (816 MW offshore wind, New York)Jan 20, 2025
Corporate M&A · NY · 816 MW
- SouthCoast Wind — 1,287 MW offshore wind, federal lease area south of Massach…Sep 6, 2024
Power Purchase & Offtake · MA, RI · Undisclosed OREC strike · 1,287 MW
- New England Wind 1 — 791 MW offshore wind, federal lease area OCS-A 0534, ~30…Sep 6, 2024
Power Purchase & Offtake · MA · Undisclosed OREC strike · 791 MW
- Vineyard Wind 2 — 800 MW offshore wind (MA share of 1,200 MW project), federa…Sep 6, 2024
Power Purchase & Offtake · MA · Undisclosed OREC strike · 800 MW
- Empire Wind 1 — 810 MW offshore wind, NY Bight (~15-30 mi south of Long Island)Jul 9, 2024
Power Purchase & Offtake · NY · $155.00/MWh strike (25-year term) · 810 MW
Recent Moves at Active Firms
All moves →Jennifer Gasser joined as Partner, Energy and Infrastructure M&A at Paul WeissMar 3, 2026
Sean Wheeler joined as Partner, Co-Chair Global M&A; Head of Houston Office at Paul WeissFeb 3, 2026
Debbie Yee joined as Partner, Energy M&A at Paul WeissFeb 3, 2026
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