The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Rhode Island Chooses Deepwater Wind to Build Off-Shore Wind Farm

Rhode Island Governor Donald Carcieri announced last week that Deepwater Wind was chosen as the developer to construct a wind energy project off the shores of Rhode Island that could provide 1.3 million megawatt-hours (MWh) of electricity per year, 15 percent of all electricity used in the state. It is expected that the project will cost more than US $1 billion to construct, with all the capital coming from private investment sources.

“Today marks a major step to bring wind power to Rhode Island and to reach our goal of at least 15 percent of all electricity in the state be renewable energy,” Governor Carcieri said. “Of the many forms of renewable energy alternatives available, wind is the proven leader. Wind power is clean, green power that is not subject to variations and increases in fuel price. Rhode Island is uniquely positioned to lead the nation with the development of this country’s first off shore wind farm."

The exact location of the wind project will be determined from the results of the Special Area Management Plan (SAMP) permitting process led by the Rhode Island Coastal Resources Management Council in partnership with URI’s Graduate School of Oceanography.

The state and Deepwater Wind will now enter a 90-day period to negotiate a formal development agreement. The final agreement will include the total commitment to Rhode Island made by Deepwater Wind, including the establishment of a manufacturing headquarters in the state and the reimbursement of the cost of the SAMP to the state's Renewable Energy Fund.

In addition, the agreement will outline the preferred developer status for Deepwater Wind in the permitting process. Final approval of the project is contingent on multiple regulatory approvals from both the state and federal governments.

Deepwater Wind was established to develop utility-scale offshore wind projects in the northeastern part of the United States. The company’s major investors are First Wind, a major developer of on-shore wind projects in the United States, DE Shaw & Co., a capital investment firm with deep experience in the energy sector, and Ospraie Management, a leading asset management firm with a focus on alternative energy markets.

Untitled Document

RELATED ARTICLES

100-MW Kenyan Wind Farm Will Help Power Africa

Renewable Energy World Editors As part of President Obama’s Power Africa initiative, the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, announced that it committed $233 million in debt financing to ...

Regional News from the July/August 2015 Digital Edition of Renewable Energy World

Renewable Energy World Editors EcoFasten Solar announced that it launched a new mounting "Rock-It System" that it would be displaying during Intersolar. Product compliance was determined through testing per UL Subject 2703, which reviews integr...

With 1.6 GW of Wind Capacity Installed in Q2, American Wind Power Continues To Ramp Up in 2015

David Ward, American Wind Energy Association With 1,661 megawatts (MW) of newly installed wind turbines coming online during the second quarter of 2015 and more than 13,600 MW under construction, American wind power continues to increase its contribution to the U.S. e...

Some Hope for US Renewable Energy Tax Credits As Extension Bill Passes Committee

Vince Font In a lopsided 23-3 vote, the U.S. Senate Finance Committee voted yesterday to extend a number of renewable energy production tax credits through the end of 2016. The vote allows developers of wind, geothermal, biomass, land...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

Doing Business in South Africa – in partnership with GWEC, the Glob...

Wind Energy in South Africa has been expanding dramatically, growing fro...

StartUp Green

AREI, American Renewable Energy Institute, in partnership with ...

AWEA Wind Resource & Project Energy Assessment Seminar 2015

Join the wind industry's leading owners, project developers, and wind as...

COMPANY BLOGS

Clean Energy Patents Maintain High Levels in First Quarter, Solar L...

U.S. patents for Clean Energy technologies from the first quarter of 201...

Koch Professor drops his Koch title, still makes same errors plus s...

The Koch Professor’s title isn’t the only thing that’s...

Fact Check: AWEA represents American wind power

The American Wind Energy Association (AWEA) is proud of its members for ...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS