New Bedford’s plans to become a hub for the offshore wind industry are closer to their realisation with the President Barack Obama’s re-election according to experts, writes South Coast Today.
Cape Wind has announced that it will use multi-million South Terminal, which is awaiting approval by the Environmental Protection Agency, as its base.
Also, two expiring tax credits are expected to be extended what could lead to new investments.
“What we’ve learned over the course of our efforts of trying to develop New Bedford as a centre for offshore wind is that the investment tax credit for wind energy is critical to getting (the industry) off the ground in the United States,” said Mayor Jon Mitchell.
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Offshore WIND staff, November 08, 2012; Image: Massachusetts Clean Energy Center