Ørsted US Offshore Wind is expanding its presence across America, bringing clean power to more communities.
Ørsted has a significant presence in the US, with a portfolio of operating and under-construction wind farms along the East Coast.
The company's commitment to clean energy is evident in its goal to power over 1 million homes with offshore wind energy by 2030.
Ørsted's US offshore wind farms are expected to generate enough electricity to power over 1.1 million homes annually.
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Offshore Wind Industry
The offshore wind industry is growing rapidly in the US, with Ørsted at the forefront of this development. Ørsted's US Offshore Wind platform has a pipeline of development capacity of approximately 9 gigawatts (GW).
Ørsted's acquisition of Deepwater Wind has created the leading US offshore wind platform with the most comprehensive geographic coverage and the largest pipeline of development capacity. This merger combines Ørsted's expertise in engineering, constructing, and operating large-scale offshore wind farms with Deepwater Wind's longstanding expertise in originating, developing, and permitting offshore wind projects in the US.
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The Block Island Wind Farm, developed by Deepwater Wind, is the only operational offshore wind farm in the country, generating 30 megawatts of offshore wind energy. This project powers 17,000 homes and has set a strong precedent for responsibly developed offshore wind power.
Ørsted's US Offshore Wind platform includes three offshore wind development projects in Rhode Island, Connecticut, Maryland, and New York, totaling 810 MW of capacity. These projects have long-term revenue contracts in place or pending finalization.
Here are some key offshore wind projects being developed by Ørsted's US Offshore Wind platform:
- Revolution Wind: Rhode Island and Connecticut's first utility-scale offshore wind farm, generating enough clean energy to power 350,000 homes.
- South Fork Wind: America's first utility-scale offshore wind farm, generating enough renewable energy to power approximately 70,000 Long Island homes.
- Block Island Wind Farm: The only operational offshore wind farm in the country, generating 30 megawatts of offshore wind energy and powering 17,000 homes.
- Revolution Wind: America's first multi-state offshore wind farm, generating enough clean energy to power 350,000 Rhode Island and Connecticut homes.
- Skipjack Wind: Located 20 miles off the coast of the Delmarva peninsula, generating 1GW of offshore wind energy and enough to power more than 300,000 homes.
- Sunrise Wind: Located more than 30 miles east of Montauk Point, generating approximately 924 megawatts of offshore wind energy and enough to power nearly 600,000 homes.
These projects will help the US meet its growing energy demand, create well-paying jobs, and grow local and regional economies. They will also support new manufacturing and infrastructure, and produce enough clean energy to power millions of American homes.
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Ørsted US Projects
Ørsted has a significant presence in the US offshore wind market, with multiple projects underway or in development.
Revolution Wind is Rhode Island and Connecticut's first utility-scale offshore wind farm, a partnership between Ørsted and Global Infrastructure Partners' Skyborn Renewables. It will generate enough clean energy to power 350,000 homes.
Block Island Wind Farm, located off the coast of Rhode Island, is an operational offshore wind farm that generates 30 megawatts of energy, powering 17,000 homes.
Sunrise Wind, located off the coast of Massachusetts and Rhode Island, will generate approximately 924 megawatts of offshore wind energy, enough to power nearly 600,000 homes.
Ocean Wind 1, a 1,100 megawatt offshore wind farm, is being developed by Ørsted and PSEG off the coast of New Jersey.
Here are some of Ørsted's notable US projects:
Ørsted also has BOEM leases for the Bay State Wind and Garden State Offshore Energy projects, with a combined capacity of up to 3.2 gigawatts.
Ørsted Acquisitions
Ørsted acquired Deepwater Wind in 2019 for $510 million, merging their US-based offshore wind assets and organizations into Ørsted US Offshore Wind.
Deepwater Wind was a Rhode Island-based offshore wind developer behind the 30 megawatt (MW) Block Island offshore wind farm.
The acquisition was a strategic move by Ørsted to create the leading US offshore wind platform with the most comprehensive geographic coverage and the largest pipeline of development capacity.
The combined pipeline of Ørsted and Deepwater Wind amounts to approximately 9 gigawatts (GW) of offshore wind development potential.
Deepwater Wind's pipeline consists of approximately 3.3 GW, including the 30 MW Block Island offshore wind farm and three offshore wind development projects in Rhode Island, Connecticut, Maryland, and New York.
Here's a breakdown of the pipeline:
The acquisition has been met with praise from those in the US focusing on the energy transition, with Ørsted and Deepwater Wind combining their expertise to realize an enormous clean energy resource for coastal populations in the US.
Frequently Asked Questions
Who owns Ørsted wind?
Ørsted is 50.1% owned by the Danish state, with the remaining shares privately held. The company's ownership structure is impacted by its business model of selling project stakes to cover costs.
Why is Ørsted stock dropping?
Ørsted's stock is dropping due to U.S. regulators halting construction of a major offshore wind project. This move has pushed the stock to an all-time low, sparking a heated debate in Denmark over the company's financial backing.
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