in News Departments > New & Noteworthy
print the content item

Gov. Donald L. Carcieri, R-R.I., has announced that Deepwater Wind was chosen as the developer to construct a wind energy project off the shores of Rhode Island that will provide 1.3 million MWh per year of renewable energy annually - 15% of all electricity used in the state. It is expected that the project will cost in excess of $1 billion to construct, and the funds will come from private investment sources. A team of experts spent several months evaluating the detailed proposals submitted by seven development groups.

Deepwater Wind was established to develop utility-scale offshore wind projects in the northeastern part of the U.S. The company's major investors are FirstWind, a major developer of onshore wind projects in the U.S.; D.E. Shaw & Co., a capital investment firm with deep experience in the energy sector, and Ospraie Management, an asset management firm with a focus on alternative energy markets.

"This is much more than an energy project," says Carcieri. "This is about creating a new industry in Rhode Island - an industry that puts Rhode Island at the epicenter of the emerging alternative energy market. Deepwater Wind will help bring new economic activity, jobs and opportunity to Rhode Island. From construction through operation, Deepwater Wind projects will provide high-quality, green collar jobs. Further, Deepwater Wind's jacket foundations are the ideal cost-effective solution for the deeper waters in our region."

Deepwater Wind has pledged a significant private investment in Rhode Island of approximately $1.5 billion with the construction of a regional manufacturing facility in Quonset, and creating up to 800 direct jobs, with annual wages of $60 million. The Quonset facility will manufacture support structures upon which the turbine and its tower are based.

The exact location of the wind project will be determined from the results of the Special Area Management Plan (SAMP) permitting process led by the Rhode Island Coastal Resources Management Council in partnership with URI's Graduate School of Oceanography.

The state and Deepwater Wind will now enter a 90-day period to negotiate a formal development agreement. The final agreement will include the total commitment to Rhode Island made by Deepwater Wind, including the establishment of a manufacturing headquarters in the state and the reimbursement of the cost of the SAMP to the Renewable Energy Fund. In addition, the agreement will outline the preferred developer status for Deepwater Wind in the permitting process.

Final approval of the project is contingent on multiple regulatory approvals from both the state and federal governments.

SOURCE: Office of Gov. Donald L. Carcieri, Providence Plantations

IowaDeptEconDevel_id1863

Trachte Inc._id1770
Latest Top Stories

Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.

UEA_id1896
WomenofWind_id
Acciona_id1907
JLG_id1900
AWEA_id1886
bonfiglioli_id1913