U.S. Offshore Wind Projects Move Closer To Reality
September 09, 2008: 02:25 PM EST
NEW YORK (Dow Jones) - 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.
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In terms of the first possible offshore project in the U.S., Delaware appears to have jumped to the front of the line to tap into nation's vast ocean wind resource, some 15 years after Europe led the way with the world's first major offshore projects.
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That project, along with several others for the coasts of New York, California, Rhode Island and New Jersey, as well as separate bid by Cape Wind for Nantucket Sound in Massachusetts, are moving to the front burner. New federal rules will help clear the way for several of them.
"The big story for offshore wind is the momentum," said Laurie Jodziewicz, manager of siting policies for the American Wind Energy Association. She pointed out that the Bluewater project, along with separate requests in state jurisdictions in New Jersey and Rhode Island, are picking up steam.
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Now that federal offshore leases appear on track, a number of regulatory hurdles will likely await the U.S.'s offshore wind projects, said Howard Siegel, a partner at Brown Rudnick and co-leader of the firm's energy and utilities practice group.
The Federal Energy Regulatory Commission will likely govern transmission lines to be built to the offshore wind turbines, and various state public utility commission will play a role as well, Siegel said.
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"Offshore power does make good sense," he said. "It has the best ability to scale up of all renewables, along with solar."
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Meanwhile, several players continue to move ahead with offshore energy plans:
* Delaware: Bluewater Wind Delaware LLC
* New Jersey: Bluewater Wind New Jersey Energy LLC; also Fisherman's Energy of New Jersey and Winergy Power LLC.
* Georgia: Southern Co. .
* Florida: Aquantis LLC/Aquantis Development Co. Inc. for ocean current data collection and technology testing, Vision Energy, Florida Power & Light .
* California: Pacific Gas & Electric Co. and Marine Sciences.
* Massachusetts: Cape Wind project
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