Lease for Cape Wind Energy Project

The Bureau of Ocean Energy Management, Regulation, and Enforcement (BOEMRE) issued a notice stating that it has issued a Commercial Lease of approximately 46 square miles of submerged lands in Nantucket Sound to the Cape Wind Energy Project for construction and operation of an offshore wind farm. The 33-year lease provides for payment of $88,278 in annual rent prior to production and a two to seven percent operating fee rate following start of production. 75 Fed. Reg. 81637 (December 28, 2010).

(Source: Byrant’s Maritime News)