Wind project uncertain; owner in liquidation
The Australia-based investment firm that owns the company planning to build a wind farm off the Delaware coast says it has agreed to a controlled breakup and liquidation.
The demise of Babcock & Brown threatens the Bluewater Wind venture, but Bluewater spokesman Jim Lanard says Bluewater is optimistic it will find the investors it needs to continue the Delaware project.
Lanard said Bluewater has continued to pursue other regional offshore wind ventures.
Bluewater and Delmarva Power signed an estimated $800 million agreement in June that would support construction of 55 to 70 wind turbines about 12 miles off the Delaware coast.
A Delmarva Power spokeswoman said she was not prepared to comment on the apparent loss of Bluewater’s financial backer.
Associated Press
9 February 2009
Tags: Wind power, Wind energy
Some possibly related stories:
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- Delmarva pursues onshore wind deal
- Wind energy figure leaving; Bluewater's Lanard will join rival company
- No deal yet for Bluewater, Delmarva; Parent company selling European wind farms
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