RI Offshore Wind Developer Sells For $510 Million To Danish Firm

PROVIDENCE, RI — The Providence-based development firm who built the Block Island offshore wind farm was sold to the Danish offshore wind company, Orsted.

Development company Deepwater Wind representatives told the Associated Press Monday that Orsted has agreed to buy the the development firm for $510 million.

Deepwater Wind built the first U.S. offshore wind farm off Block Island, which was commissioned in 2016. The firm is currently developing three wind farms to supply power to Rhode Island, Connecticut, Long Island, New York, and Maryland.

Deepwater Wind representatives told the Associated Press the company will expand over the next few years, making Providence and Boston the two major hubs for the company’s U.S. offshore wind activities.

The name of the new company will be Orsted U.S. Offshore Wind.

Orsted and its partner companies recently opened the world’s largest wind farm, capable of powering roughly 600,000 homes in the Irish Sea.

Photo credit: Scott Eisen / Stringer