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Clean Energy Milestone: Financing Complete On First US Offshore Wind Farm
The Energy Collective: At long last, there's some great, game-changing news out about offshore wind power in America. The innovative technology, which provides more than 8,000 megawatts of electricity in Europe alone, will soon be moving off of US drawing boards and into the water here, with Deepwater Wind's announcement that its 30-megawatt Block Island Wind Farm, to be developed off the coast of Rhode Island, has reached its financing targets of more than $290 million. Block Island Wind will be the first U.S. offshore wind power project to begin construction. Support comes from Cleveland-based KeyBank and France's Societe Generale. The project is expected to begin operating in the fourth quarter of 2016.
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