By PHILIP MARCELO for AP: The offshore wind industry has high hopes for establishing a permanent beachhead in the U.S. after years of disappointment.
Business leaders and politicians who gathered for an industry conference in Boston this week said wealthy investment firms and seasoned European offshore wind companies are increasingly committing to projects along the East Coast. That, they said, is evidence a domestic industry dreamed about for nearly two decades is finally on its way.
"There's a palpable sense that it's finally happening," said Bryan Martin, a managing director at D.E. Shaw & Co. That New York hedge fund is the principal backer of Deepwater Wind, a Rhode Island-based company looking to launch the country's first offshore wind farm off Block Island by the end of the year. "The U.S. tends to start small and ramp up very fast. I believe that will happen with offshore wind."
Among the significant new players to emerge in the past year is DONG Energy, a Danish firm that operates more than a dozen wind farms, including some of Europe's largest. Cont'd...
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