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Merger Between Deepwater Wind, Danish Renewable Energy Developer Finalized

Federal regulators have finalized an agreement between Rhode Island-based Deepwater Wind and a renewable energy company from Denmark.

Danish company Orsted recently agreed to buy Deepwater Wind, the developer of America’s first offshore wind farm near Block Island, for $510 million. The company’s new name is Orsted U.S. Offshore Wind.

The combined organizations are expected to serve all the states from Massachusetts to Virginia with their currently operating wind farm and those under development.

Deepwater Wind’s former CEO Jeff Grybowski is now co-CEO of Orsted U.S. Offshore Wind. He said the company plans to hire more people for its Providence office and plans to keep its New Bedford location open.

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