November 8, 2018 Read More →

Ørsted gets U.S. green light for Deepwater Wind purchase

The Maritime Executive:

Ørsted has obtained approval by U.S. competition authorities completed the acquisition of a 100 percent equity interest in Deepwater Wind.

Ørsted entered into an agreement with the D.E. Shaw Group to acquire a 100 percent equity interest in Rhode Island-based Deepwater Wind earlier this month at a purchase price of $510 million.

The two companies’ offshore wind assets and organizations will be merged to become the group with most comprehensive geographic coverage and the largest pipeline of development capacity in the U.S.

Deepwater Wind’s portfolio has a total potential capacity of approx. 3.3GW. With the combined organization and asset portfolio, Ørsted will be able to deliver clean energy to the seven states on the U.S. East Coast that have already committed to build in total more than 10GW of offshore wind capacity by 2030.

The name of the new organization is Ørsted US Offshore Wind. It will be represented by a local management team headed by Ørsted US Offshore Wind CEO Thomas Brostrøm, Co-CEO Jeff Grybowski, President and CFO David Hang both from Deepwater Wind, and COO Claus Bøjle Møller from Ørsted.

More: Ørsted completes acquisition of Deepwater Wind

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