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International investment firm Babcock & Brown has entered into a definitive agreement to acquire Bluewater Wind Delaware LLC and its parent holding companies, including Bluewater Offshore Holdings LLC and Bluewater Wind Holdings LLC.

Bluewater Wind has wind power projects under development off the coasts of Delaware, New Jersey, New York and Rhode Island, while Babcock & Brown currently manages over 1,200 MW of wind power capacity and has an equity share in over 850 MW, the companies note.

"With extensive development, operation and construction management expertise, Babcock & Brown is a true leader in wind energy that will help to ensure timely execution of the Delaware Offshore Wind Park," says Peter Mandelstam, president of Bluewater Wind.

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