Bluewater Wind Delaware Llc News

The Bureau of Ocean Energy Management, Regulation, and Enforcement (BOEMRE) issued a notice stating that it has determined that no competitive interest exists in acquiring a commercial wind lease in the area offshore Delaware. Bluewater Wind Delaware LLC submitted the only valid expression of commercial interest.  BOEMRE will proceed with the noncompetitive lease process for the proposed lease area.  76 Fed. Reg. 20367  (April 12, 2011).   (Source: Bryant’s Maritime News)

International investment firm Babcock & Brown (ASX: BNB - News), announced it has entered into a definitive agreement to acquire Bluewater Wind Delaware LLC and its parent holding companies, including Bluewater Offshore Holdings LLC and Bluewater Wind Holdings, LLC, in an effort to expand its portfolio of wind energy projects and contribute to its goal of developing offshore wind. Hunter Armistead, head of Babcock & Brown's North American Energy Development Group added that Bluewater will continue with negotiations with Delmarva Power toward executing a Power Purchase Agreement (PPA), in a process that is being overseen by the Delaware Public Service Commission and three state agencies. [Source: PRNewswire]