Salazar signs Cape Wind offshore lease, pledges reforms

Cape Wind moved one step closer to construction as its developer and the US government signed the first lease for commercial wind energy development on the Outer Continental Shelf.

Hundreds of attendees at an American Wind Energy Association conference in Atlantic City, New Jersey, wildly cheered and celebrated with toasts using coffee cups as US Interior Secretary Ken Salazar and Cape Wind Associates chief executive Jim Gordon signed the 25-year lease.

"This is the beginning of a new era for our nation in offshore energy production," Salazar told the audience. “It’s a historic day for wind energy.”

He says that Cape Wind will pay a 2% to 7% operating fee based on electricity sales to Massachusetts and possibly neighboring states.

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