GE-BOND Consortium Secures Contract To Build Electrical Systems For New York Project

GE-BOND consortium between General Electric Co GE GE Renewable Energy's Grid Solutions and New York-based BOND Civil & Utility Construction has secured an EPC contract from Empire Offshore Wind to supply a digital onshore substation for Empire Wind 1 offshore wind farm project in New York. Financial terms were not disclosed.
Empire Offshore Wind is a joint venture between Equinor ASA EQNR and BP plc BP.
Once operational, the Empire Wind 1 project will generate enough power to meet the electricity needs of 500,000 New York homes.
The GE-BOND consortium will be responsible for delivering the onshore substation and interconnection cable in Brooklyn, New York City, and designing and supplying the high-voltage electrical systems for the offshore substation.
Development of the onshore and offshore substations will start in 2022, with construction expected to begin during the second half of 2023.
Price Action: GE shares are trading lower by 0.08% at $94.75, BP lower by 0.25% at $29.73, and EQNR lower by 0.34% at $36.29 on the last check Tuesday.