The Cape Wind Project was a proposed offshore wind energy project on Horseshoe Shoal in Nantucket Sound off Cape Cod, Massachusetts. It was projected to generate 1,500 gigawatt hours of electricity a year at a first-dollar cost of $2.6 billion.
Cape Wind had arranged to borrow $2 billion from The Bank of Tokyo-Mitsubishi UFJ (BTMU), and Siemens had agreed to supply turbines for the project.[2] Some construction began in 2013, thereby qualifying the project for the federal production tax credit, which was expiring at the end of the year.[3]
It was approved[4][5] but then lost several key contracts and suffered several licensing and legislative setbacks. National Grid and Northeast Utilities eventually terminated their power purchase agreements in January 2015, making it difficult to obtain the necessary financing for the project to progress.[6]
The developer, Jim Gordon of Energy Management Inc.,[7] eventually terminated the lease rights for the site in late 2017.[8]
^Cite error: The named reference cape_wind_basics was invoked but never defined (see the help page).
^
Gossens, Ehren. "Wind Power Rivals Coal With $1 Billion Order From Buffett". Bloomberg Businessweek. Archived from the original on December 17, 2013. Retrieved 30 December 2013.
^Cassidy, Patrick (March 19, 2013). "Deal reached on lead bank for Cape Wind". Cape Cod Times. Archived from the original on 2013-12-31. Retrieved March 27, 2013.
^Krasny, Ros. Cape Wind, first U.S. offshore wind farm, approved Archived November 21, 2010, at the Wayback Machine Reuters, 28 April 2010. Retrieved 2 May 2010
^Jackson, Derrick Z. The winds of change Archived March 3, 2016, at the Wayback Machine The Boston Globe, 1 May 2010. Retrieved 2 May 2010
^Cite error: The named reference BG20150106 was invoked but never defined (see the help page).
^(CNN) "The wind man who beat Cape Cod's elite" Archived March 3, 2016, at the Wayback Machine, CNN website, April 29, 2010.
^Chesto, Jon (December 1, 2017). "R.I.P., Cape Wind". The Boston Globe.
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