Deepwater, whose main investor is hedge fund DE Shaw, in July submitted a winning $3.83m bid in the country’s first commercial offshore wind energy competitive lease auction.

The developer plans a utility-scale wind farm of up to 1,000MW in the area with a regional transmission system linking Long Island, New York, to southeastern New England.

Deepwater previously paid a $900,000 deposit to participate in the auction and will pay the balance now that the lease has been signed.

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