U.S. wind energy developer Deepwater Wind has announced it will build America’s first offshore wind farm, after securing more than USD$290 million in financing from major investors such as French fund Societe Generale and Ohio-based Keybank.
Construction of turbines, nacelles and platforms for the Deepwater Wind Block Island farm, a 30-megawatt facility just three miles off the coast of Rhode Island, is already underway; with the company expecting to have “steel in the water” by July. The project is expected to be completed and providing power to homes and businesses in the fourth quarter 2016.
Deepwater Wind’s financial coup means it can now lay claim to construction of America’s first offshore wind farm, after the much-touted 130-turbine Cape Wind offshore wind project in Nantucket Sound, announced in 2011 by Energy Management Inc. (EMI), was embroiled in protracted legal battles over power purchasing agreements in 2014.
But with the U.S. Energy Department last year issuing a USD$150 million loan guarantee to develop the Cape Wind site, it seems that project is destined to proceed with the backing of government. Until then, Deepwater Wind is celebrating its position as the nation’s first offshore wind developer.
“We’re ecstatic to reach financial close and thrilled to be partners with Societe Generale and KeyBank for this groundbreaking clean energy project,” said Deepwater Wind CEO Jeffrey Grybowski.
Deepwater contracted Danish turbine manufacturer Alstom to provide five Haliade 150 6 MW offshore wind turbines for the project before finance was even arranged, and the supplier says all 15 blades are complete and ready for shipment from its Denmark factory.
Louisiana steel company, Gulf Island Fabrication, Inc., began fabrication work last month on the wind farm’s five steel jacket foundations. A Rhode-Island based specialist dive company will begin work on foundation structures at Quonset, RI soon. These works are scheduled to be complete in several months.
“We are on the cusp of bringing offshore wind from theory to reality in the U.S. We’re incredibly proud of our position at the forefront of the U.S. offshore wind industry,” Grybowski said. “We’ve brought together some of the best American and European expertise to build an outstanding project and finance team. We’re poised to launch a new American clean-tech industry, and it all starts here with our work on the Block Island Wind Farm.”
