Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 107

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 107
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 its 50 percent ownership share in the South Fork Wind and Revolution Wind projects to affiliates of Global Infrastructure Partners (GIP).  Under the agreement with GIP, Eversource’s existing and certain additional credit support obligations for Revolution Wind are expected to roll off as the project completes construction.  On July 9, 2024, Eversource completed the sale of its 50 percent ownership share of Sunrise Wind to Ørsted.  Under the agreement with Ørsted, Eversource’s existing credit support obligations for Sunrise Wind were either terminated or indemnified by Ørsted as a result of the sale.  The following table summarizes Eversource parent's exposure to guarantees and indemnifications of its subsidiaries and affiliates to external parties, and primarily relates to its previously-owned offshore wind projects:  As of September 30, 2025Company (Obligor)DescriptionMaximum Exposure(in millions)Revolution Wind, LLC and TurbineCo, LLCOffshore wind construction-related purchase agreements with third-party contractors (1)$181.0 Eversource Investment LLC, Eversource Investment Service Company LLC and South Fork Class B Member, LLCOffshore wind funding and indemnification obligations  (2)202.6 Eversource Investment LLCLetters of Credit (3)4.3 Eversource TEI LLCSouth Fork Wind Tax Equity (4)50.0 South Fork Wind, LLCPower Purchase Agreement Security (5)7.1 Various Eversource subsidiariesSurety bonds (6)34.1 (1)    Eversource parent issued guarantees on behalf of its previously 50 percent-owned affiliate, Revolution Wind, LLC, and on behalf of TurbineCo, LLC (successor in interest to North East Offshore, LLC (NEO)), under which Eversource parent agreed to guarantee each entity’s performance of obligations under certain construction-related purchase agreements with third-party contractors, in an aggregate amount not to exceed $693.0 million.  Eversource parent’s obligations under the guarantees expire upon the earlier of (i) dates ranging between December 2026 and November 2027 and (ii) full performance of the guaranteed obligations.(2)     Eversource parent issued guarantees on behalf of its wholly-owned subsidiary Eversource Investment LLC (EI), which held Eversource's previous investments in offshore wind-related equity method investments until sale, and on behalf of its previously 50 percent-owned affiliate, South Fork Class B