Deepwater sees Block Island offshore pilot financing in 2013

Developer Deepwater Wind expects to nail down financing in 2013 for its $300m, 30MW Block Island demonstration wind project off the Atlantic coast of Rhode Island, chief executive Bill Moore tells Recharge.

“I’m pretty confident we’ll get it,” Moore says. The cost includes $210m to $215m for the wind farm to be powered by five of Siemens’ new 6MW direct-drive turbines, with the balance for a 21-mile (37.7km) 34.5kV submarine cable that will link the wind farm with Block Island and the mainland.

Several potential lenders at the American Wind Energy Association’s Offshore Windpower 2012 Conference here say they believe the project will soon become “bankable". They note it has a power purchase agreement (PPA), should obtain all necessary regulatory approvals, and that Siemens…

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