Orsted Acquires Deepwater Wind To Build US Offshore Wind Platform

Danish offshore wind energy giant Ørsted has entered into an agreement to acquire the Rhode Island-based offshore wind developer behind the 30 megawatts (MW) Block Island offshore wind farm, Deepwater Wind, in a move set to be worth $510 million and which will result in the creation of a US offshore wind platform. Ørsted announced on Monday that it had entered into an agreement with the D.E. Shaw Group to acquire a 100% equity interest in Deepwater Wind at a purchase price of $510 million. Ørsted and Deepwater Wind will merge their US-based offshore wind assets and organizations into what they believe will be “the leading US offshore wind platform with the most comprehensive geographic coverage and the largest pipeline of development capacity,” named Ørsted US Offshore Wind.