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PROVIDENCE, R.I. (AP) – An offshore wind developer based in Rhode Island is in the process of being acquired by Danish offshore wind company Orsted.
Deepwater Wind, based in Providence, announced Monday that Orsted had reached an agreement for its acquisition. Orsted says he's paying $ 510 million.
Deepwater Wind built the first US offshore wind farm off Block Island, Rhode Island.
It is currently developing three wind farms to power Rhode Island, Connecticut, Long Island, New York and Maryland.
Deepwater Wind plans to expand in the coming years, making Providence and Boston the two main hubs in the company's offshore wind business.
The name of the new organization will be Orsted U.S. Offshore Wind.
The company has announced that its activities at the Block Island Wind Farm will continue as normal. His investments in Rhode Island include the development of Revolution Wind Warm, the 400-megawatt project selected by the Raimondo Administration in May to supply Rhode Island with electricity as planned, the company said.
The Revolution Wind project of 50 wind turbines is expected to create more than 800 jobs in Rhode Island, as well as "dozens of long-term maintenance and operations jobs," the company said in a press release. .
Deepwater works on several wind farms located in federally leased waters between Block Island and Martha's Vineyard. In addition to the Revolution wind farm, it is developing the South Fork wind farm, a 90 megawatt project that would power Long Island and a 200 megawatt project for Connecticut.
"By investing in the new company, Rhode Island will play a very important role in our growth plans. We support Deepwater Wind's commitment to invest $ 40 million in Rhode Island ports and create hundreds of jobs in the construction of the Revolution Revolution wind farm and other projects, "said Martin Neubert, CEO Offshore Wind at Orsted.
Orsted and its partners have recently opened the world's largest wind farm, capable of powering about 600,000 homes, in the Irish Sea.
– With the reports of the newspaper staff
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