The world’s largest wind energy company, Orsted, is poised to acquire Rhode Island–based Deepwater Wind for half a billion dollars. Orsted, in partnership with Eversource, was one of three bidders for a wind farm off the Vineyard that eventually went to Vineyard Wind. Deepwater Wind was the third bidder, and like Orsted, partnered with a utility for the bid — National Grid.
The monumental deal stands to give Orsted a small wind farm off Block Island as well as several other wind farm projects in the region that Deep Water Wind has in development, including a federal wind farm lease off the coast of Martha’s Vineyard that had been granted to Deep Water Wind. Coupled with a federal lease it already has, Orstead has taken center stage in the U.S. wind turbine market.
The deal with Deep Water Wind is still being worked out, according to Orsted’s North American head of strategic partnerships, Francis Slingsby. Once it’s complete, Orstead plans to make a formal announcement about the acquisition, he said.