Orsted, a Danish offshore wind company, will purchase Providence-based Deepwater Wind, the latter company announced today. The reported cost of the deal (which must receive approval from federal regulators) is $510 million.
"This combination is the right one to take this industry from its infancy to a major player in the energy sector in the United States today," said Deepwater Wind CEO Jeffrey Grybowski, who will serve as co-CEO of the newly minted Orsted U.S. Offshore Wind.
Also at the forthcoming organization's helm is Thomas Brostrom, who told the Associated Press that there was a large market along the Eastern Seaboard for offshore wind, and that Orsted wanted to be in at the forefront of its development.
Moving forward, the company will continue to develop its slated projects with an eye for additional farm opportunities, meaning more turbines and job opportunities for employees in both Providence and Boston, two cities who will serve as "the two major hubs" for Orsted U.S. Offshore Wind.
Gov. Gina Raimondo said the move was "a real opportunity" for the state that was "incredibly exciting."
This isn't the first time Deepwater Wind has made headlines this year. In fact, Raimondo announced on May 23 that the ocean state has chosen Providence-based clean energy developer Deepwater Wind to build an offshore, 400-megawatt windfarm.
The project, dubbed as Revolution Wind, is the result of a plan set by the Raimondo administration to increase the state's resources portfolio tenfold to 1,000 megawatts by 2020.
