Ørsted completes Deepwater Wind acquisition

Source: press release, 8 November 2018

Ørsted wind farm (photo: Ørsted)
Ørsted has an ambitious plan to maintain and expand its position in offshore wind in existing and new markets (photo: Ørsted)

Ørsted has, upon approval by the US competition authorities, completed the acquisition of a 100% equity interest in Deepwater Wind.

In October, Ørsted entered into an agreement with the D.E. Shaw Group to acquire a 100% equity interest in Rhode Island-based Deepwater Wind at a purchase price of USD 510 million.

The two companies’ offshore wind assets and organisations will now be merged into the US offshore wind platform with the most comprehensive geographic coverage and the largest pipeline of development capacity.

The completion of the acquisition does not change Ørsted’s previous financial guidance for the financial year of 2018 or the announced expected investment level for 2018.