Great Lakes Dredge announced that Empire Offshore Wind has informed Great Lakes in consortium with Van Oord, of the termination of the rock installation contract for Empire Wind II which was set to commence in 2026. In 2022, the Consortium, was contracted by Empire Wind to perform rock installation for the Empire Wind I and II projects with installation windows in 2025 and 2026, respectively. The Article VII for Empire Wind I was approved by the New York State Public Service Commission in December of 2023. Empire Wind I is currently on track for rock installation in 2025. However, Empire Wind has informed the Consortium that they have terminated the Empire Wind II rock installation contract that was set to commence in 2026. Termination of the Empire Wind II project initiates a contractually obligated termination fee payable to the Consortium that is intended to cover lost earnings potential related to Empire Wind II.
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