Wednesday, October 6, 2010

Cape Wind Project Moves Forward

The Department of Interior and Cape Wind Associates have signed the nation’s first lease for commercial wind energy development on the Outer Continental Shelf (OCS). The area offered in the lease is comprised of 25 square miles in Nantucket Sound offshore Massachusetts. The 130 planned wind turbines are expected to produce enough energy to power more than 200,000 homes in Massachusetts. The site of the project on Horseshoe Shoals lies outside shipping channels, ferry routes and flight paths but is adjacent to power-consuming coastal communities. The Cape Wind energy project would be the first wind farm in U.S. waters, potentially generating enough power to meet 75 percent of the electricity demand for Cape Cod, Martha’s Vineyard and Nantucket Island combined. The 28-year lease for the area off the coast of Cape Cod, Mass. will cost the company $88,278 in annual rent prior to production, and a 2 to 7 percent operating fee during production. “This is the beginning of a new era for our Nation in offshore energy production,” Secretary Salazar said in a speech to the American Wind Energy Association in Atlantic City, New Jersey, where he signed the lease. “Responsibly developing this clean, renewable, domestic resource will stimulate investment in cutting-edge technology, create good, solid jobs for American workers, and promote our nation’s competitiveness, security, and prosperity.”

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