Denmark-based Orsted has agreed to buy US offshore wind developer Deepwater Wind for $510m. In a statement Monday, Orsted said that the purchase price for the deal was $510 million. 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. In addition, Orsted, along with its Danish partner Statkraft, is building two new gas turbines in Denmark that are expected to start generating power this year.
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. In addition, Orsted, along with its Danish partner Statkraft, is building two new gas turbines in Denmark that are expected to start generating power this year.