The Rhode Island company that plans to build an offshore wind farm northeast of Ocean City has been bought by a Danish firm in a deal that will create a U.S. wind energy giant with the largest pipeline of projects.
The $510 million acquisition of D.E. Shaw Group’s Deepwater Wind by Orsted is not expected to change the timeline of any of the wind farm projects, including the one about 19.5 miles off Maryland ’s coast close to the Delaware line, according to Jeffrey Grybowski, CEO of Deepwater Wind.
He said, however, that the merger could help bolster the projects.
“Orsted comes with tremendous engineering and construction expertise,” he said. “They have 1,200 turbines offshore today and they built the first in 1991 off the coast of Denmark. Clearly they are pioneers in our industry and we’re excited to team up with them.”
Deepwater Wind was given permission to sell the farm’s energy to the state in 2017 and is now in the process of collecting data to apply for environmental permits from federal and state authorities.
Read the full report from the Baltimore Sun.