Eversource Energy has adjusted its liability related to future payments to Global Infrastructure Partners (GIP) following the sale of the South Fork Wind and Revolution Wind projects.
The company said the revision adds around $285 million to its existing obligation, partially offset by a federal tax benefit of about $210 million linked to losses on these offshore wind investments. The overall effect is expected to result in a one-time after-tax charge of roughly $75 million, or $0.20 per share, which will be recorded in the third quarter of 2025.
As part of the agreement with GIP, Eversource remains responsible for certain post-closing purchase price adjustments. When the sale closed, the company recorded a $365 million liability to reflect these potential adjustments, later reduced to approximately $296 million by mid-2025. With South Fork Wind now operational, the remaining liability primarily relates to the near-complete construction of Revolution Wind.
Updated cost projections received from GIP in the third quarter of 2025 showed higher overall expenses. These were attributed to increased insurance costs, tariff impacts, vessel damage during turbine installation, and a temporary halt in offshore construction ordered by the Bureau of Ocean Energy Management in August 2025.
Eversource continues to review its obligations with GIP and may adjust the liability once construction of the Revolution Wind project is finalised.
