CAPE WIND AWAITS FEDS' LOAN GUARANTEE

Mass. Lawmakers Urge Energy Department To Approve Cape Wind Loan Guarantee

5 April 2013 (North American Windpower)

“The entire Massachusetts congressional delegation, including the state's nine U.S. representatives and two U.S. senators, has sent a joint letter to the U.S. Department of Energy (DOE) [and the White House Office of Management and Budget] urging the department to approve the delayed loan guarantee for the Cape Wind offshore wind project…

“…[T]he call for action comes two years after the DOE eliminated the Section 1705 loan-guarantee program and informed developer Cape Wind Associates that its application could not be processed by the program's Sept. 30, 2011, deadline. The application has been on hold ever since.”

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“The letter…[touts] the potential economic and environmental benefits of Cape Wind, which is planned for Nantucket Sound…[It] will create up to 1,000 jobs in Massachusetts during its construction and build a supply chain for the emerging offshore clean energy industry…[and, according] to the lawmakers, the Cape Wind project is construction-ready and represents a new era for the U.S. wind industry…

“…Cape Wind is the first U.S. offshore wind farm to secure all of its federal, state and local permits and to have received a commercial lease and approval of its construction and operations plan…[after a] 10-year regulatory review…”

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