Many MindedRevolution Wind reaches full operation, easing Eversource's exposure
Revolution Wind, a 704-MW offshore wind farm off southern New England, is now fully operational. Eversource CEO Joseph Nolan said so on the company's Nov. 5, 2026 third-quarter earnings call. Ørsted is building the project, which was delayed by two stop-work orders from the Trump administration.
The financial angle is Eversource's exit. In 2024 it sold its 50% stakes in three offshore wind projects, including its share of Revolution Wind. Nolan said full operation significantly reduces the risk of further financial obligations tied to the project. As of June, Eversource had reserved about $409 million for potential obligations tied to the two wind farms sold to Global Infrastructure Partners, per an SEC filing. It expects to close out its contractual obligations with GIP next year and says the reserve is adequate. That is management's own assessment.
Why it matters for abundance: a large source of generation is now running in a region that needs more clean power, and it got there despite repeated federal interruptions. A finished project is evidence that US offshore wind can be completed, which helps lower the perceived risk for the next one.
The call also covered the grid side. Connecticut Light & Power has a pending $451 million rate request, including $1 billion for advanced meters, and CFO John Moreira expects regulators to rule in June. ISO New England selected a $2.2 billion Eversource–Avangrid transmission proposal for Boston, with Eversource's share at $700 million. Those metering and transmission projects are not yet in the current capital plan. Separately, Eversource says it owes about $880 million in refunds after FERC lowered the base transmission ROE retroactively. Moreira expects an appeals court decision by early fall next year and called the May refund deadline challenging. The rate case outcome and appeal timing are expectations, not settled results.
Source: Utility Dive