Block Island will use Alstom Haliade turbines Photo: Alstom

Finance in place for Deepwater's Block Island

Developer Deepwater Wind has reached financial close on more than $290m in financing for its five-turbine, 30MW project pilot Block Island wind project in state waters off the coast of Rhode Island.

2 March 2015 21:51 GMT Updated 28 September 2016 9:46 GMT

By Richard A. Kessler in Fort Worth

The move all but ensures that Block Island will be the first US offshore wind project, if commercial operation begins as scheduled in fourth quarter 2016.

Joint initial mandated lead arrangers are Societe Generale and KeyBank National Association, a US lender based in Cleveland. KeyBank’s involvement bodes well for the nascent industry, which until now has struggled to attract support from the US financial community.

Deepwater

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