U.S. Offshore Wind Projects Move Closer To Reality
Dow Jones reported that deal making and development in the wind arena continue even as the economy slows down, with the federal government moving ahead to grant leases for the U.S.'s first offshore wind projects in history and other state-based projects moving to the front burner. Comments on federal rules to govern a host of alternative energy projects proposed in federal waters off the coast of the drew about 225 responses by Monday's deadline, as the U.S. Mineral Management Service, or MMS, moves ahead with plans to lease the outer continental shelf to several companies. Maureen Bornholdt, program manager of the MMS offshore alternative energy program, said the Interior Department remains on track to complete drafting the rules by the end of the year, wrapping up a three-year process.
Babcock & Brown to Acquire Bluewater Wind
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]
Bluewater Wants to Bring Offshore Wind Farm to Del.
Bluewater Wind, a developer of off-shore wind energy, is one of the companies competing for a long-term energy contract with Delmarva Power. Delmarva Power is requesting a proposal for an energy provider to help stabilize the price of energy in the state. Bluewater Wind is one of the companies competing for the contract, along with NRG, which has proposed expanding its coal facility on the Indian River Bay. Delmarva Power will choose an energy company in November. Bluewater Wind is proposing building as many as three wind farms that would generate a total of 600 megawatts of energy. While the price of fuel is free, the price of building the windmills will come to about $800 or $900 million. The University has been studying the wind off the coast of Delaware for 20 years.
