North American Windpower reports U.S. offshore wind is "embryonic no more"

North American Windpower reports that the U.S. offshore wind industry is embryonic no more. Recent offshore wind news highlights also show that installations worldwide are picking up speed.

As of the end of July, the developer behind the 468 MW Cape Wind project had secured close to two-thirds of the roughly $2.5 billion needed for the wind farm, to be located off the coast of Cape Cod, Mass. In addition, the developer sold more than 77 percent of the projected output (363 MW) through stable, 15-year power purchase agreements (PPAs) at $0.187/kWh plus inflation. Construction is planned to commence in 2015.

Deepwater Wind (Providence, R.I.) has secured the entire output for the more modest 30 MW Block Island wind farm, located off the Rhode Island coast, with a 15-year PPA at $0.244/kWh. It also has preliminary contracts for turbines from Alstom and an installation vessel from Fred Olsen Windcarrier, and has received the go-ahead from the U.S. Army Corps of Engineers, the last federal agency to grant its approval. Deepwater says the Block Island wind farm has now been completely reviewed and approved by nine state and federal agencies, and expects “steel in the water” by 2015 with service to begin in 2016. Cont'd...

North American Windpower reports U.S. offshore wind is "embryonic no more"

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