(Updated, 11:20 a.m.)

PROVIDENCE – Deepwater Wind LLC has asked National Grid to buy electricity from a wind farm the firm has planned for waters off the coast of Block Island.

The company submitted a bid Monday to fulfill a state requirement that National Grid purchase some of its electricity from renewable energy sources. New Jersey-headquartered Deepwater is proposing a wind farm with five to eight turbines in state waters about three miles off the southeastern coast of Block Island, which it hopes to bring online by 2012.

Chief Development Officer Paul Rich said he could not reveal details of the bid because it could jeopardize negotiations with National Grid.

“We’re very excited to make this happen,” Rich told Providence Business News.

Any agreement between the utility and the energy provider will be subject to approval from the R.I. Public Utilities Commission. National Grid has until Oct. 15 to present the commission with its preferred contract. The commission is scheduled to make a decision by the end of the year.

Deepwater Wind also hopes to secure a separate contract with National Grid to sell electricity from a larger wind farm with about 100 turbines proposed for 15 miles off the coast.

A spokeswoman for National Grid said the company was not releasing any information about the bidding process and would not say how many bids were received. But state law mandating the process appears designed in a way to favor a bid from Deepwater Wind.