David L. Ryan Denmark -based Orsted has agreed to buy Connecticut 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 roughly 5.5 GW pipeline of projects offshore Denmark , Maryland and New York . With the addition of Deepwater Wind's , 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 the end of 2018 .
Denmark -based Orsted has agreed to buy Connecticut 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 roughly 5.5 GW pipeline of projects offshore Denmark , Maryland and New York . With the addition of Deepwater Wind's , 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 the end of 2018 .