BOSTON — On Wednesday, Ørsted announced that its acquisition of Deepwater Wind has been finalized.

Ørsted has acquired 100% equity in Deepwater Wind from the D.E. Shaw Group at a purchase price of $510 Million. All conditions to close have been satisfied, including a review of the transaction by US authorities.

The newly combined organization—Ørsted US Offshore Wind—will be able to deliver clean energy to every coastal state in the densely-populated east coast corridor between Massachusetts and Virginia. Seven states in that region have already committed to building more than 10GW of offshore wind capacity by 2030. The new company launches as the clear leader in the US market, with the most comprehensive geographic coverage and the largest pipeline of development capacity, totaling over 8GW.

Ørsted US Offshore Wind delivers clean, renewable energy along the US Eastern Seaboard. The company operates Block Island Wind Farm, America’s first offshore wind farm, and has a comprehensive
geographic coverage with the largest pipeline of development capacity, totaling over 8GW in seven states. It is jointly headquartered in Boston, Massachusetts and Providence, Rhode Island and employs 75 people.

More From WBSM-AM/AM 1420