October 15, 2025 — Eversource Energy increased its liability for offshore wind project costs by $285 million Tuesday, citing construction delays and rising expenses tied to projects it sold last year to Global Infrastructure Partners.
The utility said it expects a $210 million federal tax benefit that will partially offset the liability, resulting in an after-tax charge of $75 million, or 20 cents per share, in the third quarter of 2025.
The increased costs stem from the Revolution Wind project, which Eversource sold to GIP along with the South Fork Wind project on Sept. 30, 2024. Under the sale agreement, Eversource remains responsible for certain post-closing cost adjustments.
Eversource recorded an initial $365 million liability when the sale closed. That amount dropped to $296 million by June 30, 2025, after the company made payments throughout the year.