Deepwater Wind has secured more than 290 million dollars to build and operate a wind farm off the coast of Block Island. The company plans to begin installing turbines this summer. Deepwater is, so far, the only offshore wind company in the country to get full financing for an offshore wind farm.
Two banks have financed Deepwater Wind’s offshore wind farm: a bank in France and Ohio-based KeyBank.
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This week, news director Catherine Welch and Mark talk with managing director of the Quonset Development Corp, Steven King. They talk about the future growth of Electric Boat, new companies moving into the business park, and the role of the Quonset state airport.
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The Block Island offshore wind farm will produce more power than originally expected, said Deepwater Wind CEO Jeff Grybowski at an open meeting before the state's Public Utilities Commission. The company expected the wind farm to produce 40 percent of its total maximum power. But since the company proposed the project, advances in turbine technology have bumped up the wind farm’s projected efficiency.
The state’s Public Utilities Commission will be brought up to speed today on the status of the Block Island wind farm project. As Rhode Island Public Radio’s environmental reporter Ambar Espinoza reports, Deepwater Wind and others will offer those updates.