HOBOKEN, N.J.– Peter Mandelstam, the founder and, until recently, president of Bluewater Wind, has started a new offshore wind development company after parting ways with NRG Energy.
North American Windpower reported that Mandelstam has started Arcadia Offshore LLC, an offshore wind development company that is seeking to build projects from Maine to the Carolinas.
In 2008, Bluewater won the first contract for offshore wind power with a utility – Delmarva Power – in the country. Bluewater planned to build a large wind farm off the coast of Rehoboth Beach and was purchased by NRG Energy in 2009.
Amid financing troubles, NRG terminated Bluewater’s contract with Delmarva at the end of last year and eliminated the positions of Bluewater’s staff, including Mandelstam.
Arcadia Offshore’s early focus will be New Jersey, Maryland and New York, Mandelstam told North American Wind Power magazine.
The company is involved in bidding for projects off those states, as well as in Massachusetts, Virginia and Maine, according to its website. The site does not mention pursuing opportunities in Delaware. Although NRG has no plans to build an offshore wind farm at this time, it has said it will continue its pursuit of a lease for the waters off of Delaware, to maintain that as an asset.
According to its website, Arcadia’s staff includes former Bluewater workers, such as Kevin Pearce, senior vice president of engineering and development; Stephen Geiger, director of marine engineering; Leslie Garrison, New Jersey project director; and KC Sahl, New York project director.
The company has retained a London-based investment firm to raise money, the magazine reported.
On its website, Arcadia advertises that its “development philosophy is premised on the success its founder Peter Mandelstam and his colleagues achieved in Delaware from 2006 through 2011.”
Arcadia Offshore is a wholly owned subsidiary of Arcadia Windpower, which Mandelstam founded, and built the Judith Gap Wind Park, a 181-megawatt facility in Montana. Bluewater Wind was originally a subsidiary of this company. Like Bluewater, Arcadia is based in Hoboken, N.J.
Mandelstam could not be reached by phone or email.
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