Brief: Eversource Energy Completes Exit Of Offshore Wind Business

Eversource Energy

30/09/2024 21:59

Eversource Energy  ES.N :
    * EVERSOURCE ENERGY COMPLETES EXIT OF OFFSHORE WIND BUSINESS
    * EVERSOURCE ENERGY: ADJUSTED GROSS PROCEEDS FROM SALE WERE
REDUCED BY ABOUT $375 MILLION AS COMPARED WITH EXPECTED PURCHASE
PRICE OF ABOUT $1.12 BILLION
    * EVERSOURCE ENERGY: EXPECTS TO RECORD AGGREGATE NET LOSS ON
COMPLETION OF ITS OFFSHORE WIND DIVESTURE OF ABOUT $520 MILLION
IN Q3
    * EVERSOURCE ENERGY: EXPECTS TO RECOGNIZE LIABILITY OF ABOUT
$360
MILLION, INCLUDED AS PART OF AGGREGATE NET LOSS OF $520 MILLION
ON SALE, IN Q3
    * EVERSOURCE ENERGY: TRANSACTION IS NOT EXPECTED TO HAVE A
MATERIAL IMPACT TO OUR TARGETED FFO/DEBT RATIO OF 14% TO 15% BY
2025

Source text for Eikon:  ID:nBwbKxcSNa 
Further company coverage:  ES.N