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DeepWater Wind

Danish Wind Power Company Buys its Way Into U.S. Market

Oct. 8, 2018
Olmstead has developed offshore wind farms throughout Europe.

A Oct. 8 New York Times article said Denmark’s Orsted, a large developer of offshore wind farms, has acquired Rhode Island’s  Deepwater Wind for $510 million. The article said, Deepwater Wind, based in Providence, R.I., and owned by D. E. Shaw, a hedge fund, “built the first offshore wind farm in the United States, a five-turbine installation off Block Island, in its home state, that came online in 2016.”

“The company has several other projects underway, including one that is expected to generate large amounts of electricity for Rhode Island and Connecticut from a tract off Martha’s Vineyard,” said the New York Times.