November 12, 2018 — Orsted, Denmark’s largest energy company and the world’s largest offshore wind developer, has completed the acquisition of Deepwater Wind from the D.E. Shaw Group. The $510 million transaction was announced last month.
As a combined organization, Orsted U.S. Offshore Wind becomes the leading American offshore wind platform, with a goal of delivering renewable energy to the eight states on the East Coast from Massachusetts to Virginia that have committed to a combined 10 gigawatts of offshore wind by 2030.
The acquisition comes as Deepwater Wind’s proposed South Fork Wind Farm, to be constructed approximately 35 miles from Montauk, is undergoing review by federal and state agencies, and the East Hampton Town Board and trustees ponder whether to grant easements or leases allowing the 15-turbine wind farm’s transmission cable to make landfall at the ocean beach at the end of Beach Lane in Wainscott, the company’s preferred site. From there it would be buried along a route to the Long Island Power Authority substation near Cove Hollow Road in East Hampton.