Your Portal for Key Energy Information and Research

Orsted

Company Summary

Description

Ørsted delivers clean, renewable energy along the US Eastern Seaboard. Through Ørsted US Offshore Wind, the company operates Block Island Wind Farm, America’s first offshore wind farm, and has a comprehensive geographic coverage with the largest pipeline of development capacity, totaling over 8GW in seven states. It is jointly headquartered in Boston, Massachusetts and Providence, Rhode Island and employs over 100 people.

Recent news

  • 3/13/2024 - Ørsted Divests Stake in... (subscriber access)
  • 1/25/2024 - Ørsted to Acquire... (subscriber access)
  • 11/8/2023 - Ørsted and... (subscriber access)
  • 9/29/2023 - Ørsted Commences... (subscriber access)
  • 9/29/2023 - Ørsted Commences... (subscriber access)

Company Transactions

Date: 6/30/2023
Type: Acquisition

BUYERS:
  • Orsted
  • SELLERS:
  • PSEG Power LLC
  • PROJECTS:
  • Ocean Wind 1
  • DETAILS:
    NOTES:
    PSEG has announced that it is going to sell its 25% stake in the Ocean 1 Offshore Wind Project to Orsted, where the will own 100% of the project after the transaction is closed. An optimal tax structure at Orsted was cited as influencing the decision. The transaction is expected to close in the first half of 2023 and the cost of the transaction was not disclosed.
    REGIONS:
  • Northeast
  • Date: 2/8/2018
    Type: Joint Venture

    SELLERS:
  • Orsted
  • DETAILS:

    COST: 225 $MM

    VOLUMES: 50 Percent

    NOTES:
    Eversource is paying roughly $225 million for a 50% interest in Orsted's Revolution Wind and South Fork Wind Farm projects