Cape Wind developer signs deal for Massachusetts marina

Author:
Updated:
Original:

Cape Wind said it will purchase a Falmouth, Mass., marina to serve as the base of operations for its wind farm, the most powerful signal yet that the decade-long proposed wind farm is likely to be built.

East Marine on Falmouth Harbor will serve as the maintenance hub for the 130 turbines once they are built, according to Cape Wind, which signed a purchase and sales agreement with the marina last week, according to The Boston Globe.

The company plans to hire 50 people, most from the local area, the newspaper reported. However, the final sale will only occur if the project receives financing to build the $2.5 billion project.

"This requires a vision and a willingness to take a risk to make this happen,'' Cape Wind president Jim Gordon told the Globe. “We want to show the financial commitment for the operations and maintenance side. ... We have a lot of confidence we will finance this project."

Although Cape Wind has not yet announced financing for the project, it has lately made a series of investments, including geological testing in the 25-square-mile Nantucket Sound site in preparation for construction. Gordon, who would not reveal the price of the marina, said he expects to close on financing by the second quarter of next year, start construction in 2014 and begin operations in 2015. The company has guaranteed sales for power from 101 turbines, but Gordon said he intends to build all 130 proposed turbines.

The announcement came as the Alliance to Protect Nantucket Sound, the main opposition group to the proposed farm, filed suit in federal court challenging a recent FAA decision saying Cape Wind would not interfere with air traffic. The group said the FAA is ignoring public safety.

Click here for the full report.

Related

Suzuki Powers Forest River’s New Nepallo Pontoon Boats

The new Nepallo line of pontoon boats with Suzuki engines will be sold at select Camping World and Gander RV & Outdoors stores.

West Marine CEO to Keynote Annual MRA Event

With a “Climate for Change” theme, the Marine Recreation Association’s Educational Conference and Trade Show is set for Oct. 11-13.

Skeeter Owner’s Tourney Held on Lake Fork

A field of 2,000 anglers in 1,000 boats saw a nearly 10-pound bass capture first place in the annual Skeeter owner’s tournament.

Email Remains a Vital Marketing Tool for Dealers

A content marketing staple, emails can consistently deliver valuable and relevant information, if done correctly.

ABYC to Publish Largest-Ever Standards Manual

The nonprofit is offering pre-orders until June 18 of its updated standards manual, with a publication date of July 31.

Furuno, Simrad Add SiriusXM Fish Mapping Suite

The subscription-based service offers offshore anglers a suite of technology with which to locate and catch more fish.