Ørsted Open Up US Offshore Wind Market

24 October by Richard Hawkesford


Danish renewable energy giant Ørsted has acquired leading US offshore wind company Deepwater Wind for $510million USD, in a ground-breaking deal announced earlier this month.

The two companies’ will be merged into new company called Ørsted US Offshore Wind and will represent the leading offshore wind platform, with the most comprehensive geographic coverage and the largest pipeline of development capacity in the US.

Considering the first offshore wind farm in the US was completed in only 2 years ago in 2016, this is a huge step for the US renewable energy market.

After closing the transaction, the name of the new organisation will be Ørsted US Offshore Wind will be able to deliver clean energy to the seven states on the US East Coast that have already committed to build a total of more than 10GW of offshore wind capacity by 2030.

Jeffrey Grybowski, CEO of Deepwater Wind, says: “Ørsted is one of the world’s great clean energy companies and real pioneers in the offshore wind sector. We could not be more pleased with this combination, which will bring together two great teams to realize an enormous clean energy resource for coastal populations in the US.” (source globalnewswire)

The transaction is subject to clearance by the US competition authorities and is expected to close by end of 2018.

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