Eversource Energy (ES) has announced its exit from the offshore wind business, selling its 50% stake in two projects for $1.1 billion amid industry challenges. Despite a reported loss of $1.26 per share in 2023, mainly due to a $5.58 per share impairment charge from offshore wind investments, the company’s non-GAAP recurring earnings stood at $4.34 per share. Eversource plans to invest $23.1 billion over the next five years in its regulated businesses to enhance reliability and support clean energy goals, projecting non-GAAP recurring earnings of $4.50 to $4.67 per share for 2024. The company also aims for a 5% to 7% earnings growth through 2028.
