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Denmark’s Ørsted acquires Rhode Island’s Deepwater Wind

Wednesday, 17 Oct 2018

Danish energy company Ørsted is to acquire Deepwater Wind of the United States for a price of USD 510 million to create a leading offshore wind entity which, the companies claim, will have the most comprehensive geographic coverage and the largest pipeline of development capacity in the United States.

(Photo: Ørsted)

Deepwater Wind already has a significant wind power portfolio on the country’s east coast with total potential capacity of 3.3 GW. Meanwhile Ørsted, majority owned by the Danish state, has a portfolio of approximately 5.5 GW along the same seaboard. The newly combined entity will ensure that clean wind energy can be supplied to the seven states on the east coast that have already committed to build in total more than 10 GW of offshore wind capacity by 2030, according to Bloomberg.
“Deepwater Wind has done a fantastic job as a first mover in US offshore wind,” declared Thomas Brostrøm, CEO of Ørsted US Offshore Wind and president of Ørsted North America. “I look forward to joining and integrating the two US organisations. We have exciting times ahead of us delivering large-scale clean energy projects to households and businesses along the eastern seaboard. Ørsted will maintain a strong presence in Massachusetts and Rhode Island and will, of course, honour the local commitments associated with Deepwater Wind’s projects along the east coast.”