Ørsted is acquiring a 100% interest in Rhode Island-based offshore wind developer Deepwater Wind from D.E. Shaw Group in a $510 million deal.
The acquisition will see the offshore wind assets of both companies merged to create the biggest pipeline of development capacity in the US.
Deepwater Wind’s portfolio has a total potential capacity of approx. 3.3GW, while Ørsted has 5.5GW.
With the combined organization and asset portfolio, Ørsted will be able to deliver clean energy to the seven states on the US East Coast that have already committed to build in total more than 10GW of offshore wind capacity by 2030.