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AI brief of an SEC Form 8-K · Eversource Energy (ES)

Eversource completes sale of offshore wind stakes to GIP; books $520 million net loss

Negative Impact 4 of 5 m&a Written later

Eversource said it closed the sale of its 50 percent stakes in South Fork Wind and Revolution Wind to affiliates of Global Infrastructure Partners, with adjusted gross proceeds of $745 million, about $375 million below the earlier expected $1.12 billion price. The company expects an aggregate net loss of approximately $520 million on its offshore wind exit in the third quarter of 2024, with the loss subject to change as third-quarter results are finalized, and it says its $1.3 billion equity issuance plan is unchanged.

Key points

  • Adjusted gross proceeds of $745 million, down about $375 million from the expected purchase price of about $1.12 billion
  • Expected aggregate net loss of about $520 million in the third quarter of 2024, including a $370 million gain on the earlier Sunrise Wind sale
  • Expected liability of about $360 million, with the majority expected to be settled in 2026
  • Equity issuance plan of up to $1.3 billion over the next several years is unchanged

The filing

CompanyEversource Energy (ES)
Form8-K, current report
Filed with the SECSep 30, 2024, 5:17 PM ET
Accession number0001104659-24-104387

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 30, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.