Ørsted has signed an agreement to acquire Public Service Enterprise Group’s 25 % equity stake in the 1,100 MW offshore wind energy project Ocean Wind 1 located approx. 24 km off the coast of southern New Jersey in the US. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1.As Ocean Wind 1 continues its planning and development, Ørsted will ensure the project delivers affordable energy to New Jersey, while providing economic opportunity across the state and region. PSEG will support onshore infrastructure construction. Ørsted has 30 years of experience in offshore wind energy, including operating the first US offshore wind farm off the coast of Rhode Island. As the US leader in offshore wind with 5 GW in development, Ørsted is advancing the offshore wind industry supply chain, having stimulated more than USD 2 billion in US investments to date.