EnergyWatch

Ørsted finalizes big acquisition

The energy company has received approval from US competition authorities for its acquisition of US offshore wind developer Deepwater Wind for USD 510 million.

Photo: Siemens Gamesa RE

Ørsted is now formally the owner of Deepwater Wind. The US Federal Trade Commission's Bureau of Competition has thus approved the acquisition of the US offshore wind energy developer, a purchase for USD 510 million announced by the Danish energy company on Oct. 8. The entirety of Deepwater's equity is now conclusively held by Ørsted, informs the green energy major in a stock exchange notice.

With this purchase, Ørsted is now taking over the only existing offshore wind project, pilot project Block Island rated at 30 MW capacity. In a further sense, the Danish company has also secured rights to install 400 MW in Rhode Island and 200 in Connecticut – two projects allocated to Deepwater in the states' first tender earlier this year. Development rights for projects Skipjack and South Fork in Maryland and New York are also included in the deal. And finally, Ørsted can now add a few gigawatts to its pipeline of possible projects from Massachusetts in New Jersey.

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