Thursday, January 8, 2015

First Major U.S. Off-Shore Wind Farm on Hold

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The Boston Globe is reporting this morning here that financing problems caused major utilities to end contracts to buy power from the unbuilt Cape May Off-Shore Wind Farm in Nantucket Sound off the coast of Massachusetts.  The article is brief, but suggests that the project may be on hold indefinitely.

The plan called for the construction of over 100 windmills with cables bringing power onto shore.

If the project is indeed dead in the water, it will certainly take the wind out of the sails of other planned farms up and down the east coast.  The very low cost of energy right now is probably one of the major culprits causing economic headwinds for developers.

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