M&A Deal Summary

Ørsted Acquires Deepwater Wind

On October 8, 2018, Ørsted acquired renewable energy company Deepwater Wind from D. E. Shaw for 510M USD

Acquisition Highlights
  • This is Ørsted’s 3rd transaction in the Renewable Energy sector.
  • This is Ørsted’s 2nd largest (disclosed) transaction.
  • This is Ørsted’s 3rd transaction in the United States.
  • This is Ørsted’s 1st transaction in Rhode Island.

M&A Deal Summary
Date 2018-10-08
Target Deepwater Wind
Sector Renewable Energy
Buyer(s) Ørsted
Sellers(s) D. E. Shaw
Deal Type Divestiture
Deal Value 510M USD

Target

Deepwater Wind

Providence, Rhode Island, United States
website
Deepwater Wind is an offshore wind and transmission developer. Deepwater Wind delivers Block Island, the offshore wind farm in the US and has built-up a portfolio of 810MW of development stage assets with long-term revenue contracts awarded, with a further approx. 2.5GW potential capacity. Deepwater Wind was founded in 2007 and is based in Providence, Rhode Island.

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Buyer(S) 1

Buyer

Ørsted

Fredericia, Denmark

website

Category Company
Founded 2006
Sector Renewable Energy
DESCRIPTION

Ørsted is a developer of offshore wind farms, Ørsted has installed 5.1 GW offshore wind capacity in Europe and has a further 3.8 GW under construction. It is Ørsted’s ambition to have installed a total offshore wind capacity of 11-12 GW worldwide by 2025. Ørsted entered the U.S. in 2015 and sees the U.S. renewables market as an attractive, strategic growth opportunity. Ørsted holds the right to develop Bay State Wind and Ocean Wind, in total up to 4 GW of potential offshore wind capacity.

DEAL STATS #
Overall 3 of 4
Sector (Renewable Energy) 3 of 4
Type (Divestiture) 1 of 1
State (Rhode Island) 1 of 1
Country (United States) 3 of 4
Year (2018) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 Lincoln Clean Energy

Chicago, Illinois, United States

Lincoln Clean Energy LLC is a U.S.-based developer, owner and operator of wind farms. LCE has developed over 1.8 GW of renewable power projects in California, New Jersey and Texas. In 2017, LCE was the largest non-utility wind developer in the U.S

Buy $580M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Ocean Wind 1

Atlantic City, New Jersey, United States

Ocean Wind 1 is an offshore wind project delivering 1,100 MW of clean, reliable energy. Ocean Wind 1 is based in Atlantic City, New Jersey.

Buy -

Seller(S) 1

SELLER

D. E. Shaw

New York, New York,

website

Category Company
Founded 1988
Sector Financial Services
DESCRIPTION

D. E. Shaw & Co., L.P., an investment and technology development company, engages in investing in companies and financial instruments in industrialized nations and emerging markets.

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 2 of 2
State (Rhode Island) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-30 Coronal Energy - Fusion Solar Center

Connecticut, United States

Coronal Energy - Fusion Solar Center is a 20 MW-ac facility located in the town of Sprague, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-22 OCI Solar Power - Project Ivory

Dawson County, Texas, United States

OCI Solar Power LLC - Project Ivory is located in Dawson County, Texas and was constructed in connection with a facility power purchase agreement between the City of San Antonio acting through its City Public Service Board ("CPS Energy") and OCI Solar Power.

Buy -
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