Deepwater Wind

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Deepwater Wind was established to develop large-scale offshore wind projects in the north-eastern part of the United States. The company's major investors are First Wind, a developer of on-shore wind projects in the United States, D.E. Shaw & Co., a capital investment firm with energy sector experience, and Ospraie Management, an asset management firm interested in alternative energy markets.[1][2]

On 25 September 2008, Governor Donald L. Carcieri announced that Deepwater Wind was chosen as the successful developer to construct a wind power project off Rhode Island which will provide 1.3 million megawatt hours per year of renewable energy — 15 percent of all electricity used in the state.[1][2] In 2009, Deepwater signed an agreement with National Grid to sell the power from a $200-million, 30-MW wind farm off Block Island, at an initial price of 24.4 ¢/kW·h.[3]

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