PROVIDENCE, R.I. (AP) — An offshore wind developer based in Rhode Island is being acquired by the Danish offshore wind company, Orsted.
Providence-based Deepwater Wind announced Monday that Orsted has entered into an agreement to buy it. Orsted says it's paying $510 million.
Deepwater Wind built the first U.S. offshore wind farm off Block Island, Rhode Island.
It's currently developing three wind farms to supply power to Rhode Island, Connecticut, Long Island, New York, and Maryland.
Deepwater Wind says it'll expand in the coming years, making Providence and Boston the two major hubs of the company's U.S. offshore wind activities.
The name of the new organization will be Orsted U.S. Offshore Wind.
Orsted and its partners recently opened the world's largest wind farm, capable of powering about 600,000 homes, in the Irish Sea.
