EnergyWatch

Ørsted could face a struggle against itself in the US

Even if Ørsted had not lost the first round of US offshore wind auctions, it would still have considered purchasing the competitor, says Ørsted Offshore CEO.

Ørsted might end up in a intense struggle against Ørsted. It would not be the first time – as the descendants of the Danish natural scientist and discoverer of electromagnetism, H.C. Ørsted, earlier this year filed a lawsuit against the energy company for adopting their family name. This time around, however, the company's conflict could take place in its core area, offshore wind energy.

Last Monday, Ørsted announced its acquisition of Deepwater Wind, a competitor in the US offshore wind project market, for USD 510 million. The deal will need to be approved by authorities before the transaction can be completed, which the company expects will occur "before the end of 2018". Until then, the two companies will remain, formally, competitors.

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