The world’s largest offshore wind farm company has stepped up its expansion with a $510 million deal for the leading developer in the nascent American market. Orsted, formerly known as Dong Energy, said that it had agreed to buy rival Deepwater Wind from the investment firm DE Shaw to create by far the biggest offshore wind developer in US waters with a combined 8.8-gigawatt pipeline of projects. Deepwater Wind, based in Rhode Island, owns American’s first ever offshore wind farm, the tiny five-turbine, 30-megawatt Block Island project that started in December 2016. Crucially, it has also secured or is close to securing subsidy or finance contracts to support the construction of three much bigger offshore wind farms with a combined capacity of 810 megawatts. Orsted is yet to secure any such contracts in the United States.
Times 9th Oct 2018 read more »