The Long Island Power Authority has approved a power-purchase agreement with Deepwater Wind for its 90MW South Fork project, moving the US substantially closer to getting its second offshore wind farm.
The PPA will allow Deepwater, which is primarily owned by hedge fund D.E. Shaw, to begin serious discussions about financing the $740m project.
The South Fork offshore wind farm is due online in 2022, and a spokeswoman for Rhode Island-based Deepwater tells Recharge construction could begin as soon as 2019.
