27 Jul '15, 5pm

Deepwater Wind breaks ground on the US's first offshore wind farm finally

Because of the size of the project, and the local support for it, it was relatively easy for Deepwater Wind to gain financial backing from French bank Societe Generale and Ohio-based Key Bank. The power from the farm will be expensive—sold to the state power company for the 26 cents/kWh—but the heads of Deepwater Wind still believe the successful running of this wind farm will help advance projects across the eastern seaboard that have sat in limbo for several years. As Jeffrey Grybowski, Deepwater Wind’s CEO told Reuters : “Our belief is once Block Island is up and running, it will bring offshore wind from theory to reality in the United States and open up opportunities to

Full article: http://inhabitat.com/deepwater-wind-breaks-ground-on-the-...

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