DNNGY - Orsted To Acquire Deepwater Wind For U.S. Offshore Wind Farm
Quick Take
Danish wind and bioenergy provider Orsted (DNNGY) has announced it has agreed to acquire Deepwater Wind for $510 million.
Deepwater Wind operates an offshore wind farm in the U.S.
DNNGY management believes the U.S. will be a strategically important adopter of offshore wind projects in the decades ahead.
Target Company & Market
Rhode Island-based Deepwater Wind was founded in 2005 to develop and operate an offshore wind farm in the U.S., the 30-megawatt (MW) Block Island facility.
Management is headed by CEO Jeffrey Grybowski, who has been with the firm