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Wind farm giant Orsted buys Deepwater Wind for $510M

Published 10/08/2018, 04:24 PM
Updated 10/08/2018, 04:24 PM
© Reuters.  Wind farm giant Orsted buys Deepwater Wind for $510M
  • Denmark's Orsted (OTCPK:DNNGY, OTCPK:DOGEF), one of the world’s largest offshore wind energy developers, agrees to acquire a Rhode Island's Deepwater Wind for $510M, an indication that the U.S. is becoming an attractive market for offshore energy generators.
  • Deepwater Wind, which is owned by the D.E. Shaw hedge fund, is responsible for the only operational offshore wind farm in the U.S., the 30 MW Block Island facility.
  • Deepwater Wind's portfolio has a total potential capacity of ~3.3 GW, including offshore wind development projects in Rhode Island, Connecticut, Maryland and New York; Orsted's U.S. offshore wind portfolio totals 5.5 GW.
  • Now read: For ABB, It's About Cycle, Self-Improvement, And Sentiment


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