Denmark - based Orsted has agreed to buy US offshore wind developer Deepwater Wind for $ 510 m . The agreement includes the 30 MW Long Island project - the US ' only working offshore wind farm - as well as a 3 GW pipeline of projects offshore Connecticut , Maryland and New York . With the addition of Deepwater Wind , which was previously owned by hedge fund DE Shaw , Orsted 's potential US offshore wind portfolio will stand at roughly 10 GW . Deepwater Wind will be re - named as US Offshore Wind , it said . The deal , which is subject to regulatory approval , is expected to close by year - end .
Denmark-based Orsted has agreed to buy US offshore wind developer Deepwater Wind for $510m. The agreement includes the 30 MW Block Island project - the US' only working offshore wind farm - as well as a 3 GW pipeline of projects offshore Connecticut, Maryland and New York. With the addition of Deepwater Wind, which was previously owned by hedge fund DE Shaw, Orsted's potential US offshore wind portfolio will stand at roughly 5.5 GW. Deepwater Wind will be re-named Orsted US Offshore Wind, Orsted said. The deal, which is subject to regulatory approval, is expected to close by year-end.