Wind turbines. Credit: Matt Artz on Unsplash.

Global offshore wind farms developer Ørsted has agreed to acquire 100% stake in US-based offshore wind developer Deepwater Wind for a purchase price of $510m.

To this end, the company has signed an agreement with D.E. Shaw Group. Established in 2007, Deepwater Wind currently has a built-up portfolio of 810MW of development stage assets.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all
"Combination of the two companies’ is expected to generate and deliver clean energy to seven states on the east coast."

Ørsted Offshore Wind CEO Martin Neubert said: “Today’s announcement consolidates Ørsted’s position as the global market leader in offshore wind with a strong foothold across Europe, North America and Asia-Pacific.

“D.E. Shaw & Co. has been a dedicated owner of Deepwater Wind with a vision to pioneer offshore wind in the US and being at the innovative forefront of technology investment. We are excited to continue this journey and take the industry to the next level.”

Completion of the deal is subject to clearance by the US competition authorities and is expected to close by the end of this year.

Upon completion of the transaction, the newly formed organisation will be named as Ørsted US Offshore Wind.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Combination of the two companies’ is expected to generate and deliver clean energy to seven states on the east coast.

Currently, Deepwater Wind’s portfolio has a total potential capacity of nearly 3.3GW, while Ørsted’s current US offshore wind portfolio capacity is around 5.5GW.

Ørsted recently acquired US developer of onshore wind farms Lincoln Clean Energy. It is also constructing two 6MW wind turbine positions of Dominion Energy’s Phase One Coastal Virginia offshore wind project.