Financial Advisory Firm Joins Cape Wind Project

[] Cape Wind has engaged Lehman Brothers to provide financial advisory services to America’s first offshore wind farm to be located off the coast of Cape Cod, Massachusetts. Lehman Brothers will work with Cape Wind to structure the optimal financing for the 468 MW renewable energy project through a mix of equity, commercial bank debt or capital markets debt. Cape Wind’s President, Jim Gordon said that part of the reason for choosing Lehman Brothers was that the firm’s managing director on this assignment, Theodore Roosevelt IV, is a committed environmentalist and long time Martha’s Vineyard resident. The offshore wind farm proposal has caused a small, but vociferous and powerful minority in Cape Cod and the islands to oppose the project for largely aesthetic reasons. The Cape Wind project recently received approval from the Massachusetts Energy Facilities Siting Board to link its renewable energy via electric transmission cables to the electric grid. It is also nearing the completion of a multiyear permitting process under the National Environmental Policy Act and Massachusetts Environmental Policy Act.


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