Deepwater Wind Pleased that BOEM Proceeds with Leasing Process (USA)

June 5, 2013

Deepwater Wind has issued the following statement on U.S. Department of The Interior’s final sale notice for offshore wind energy off Rhode Island and Massachusetts shores:

“We are pleased that the Bureau of Ocean Energy Management (BOEM) is proceeding with the leasing process and that BOEM took into account the concerns raised by the State of Rhode Island with BOEM’s draft auction document.

“As the State of Rhode Island’s preferred developer, Deepwater Wind plans to proceed with our long-term plan to develop a regional offshore wind farm at this site.

“The State of Rhode Island selected Deepwater Wind as its preferred developer through a competitive process in 2008, and the Commonwealth of Massachusetts acknowledged that selection in 2010. Deepwater is the only holder of a Joint Development Agreement with a neighboring state, and we therefore expect to qualify for the multi-factor discount called for in the final sale notice.

“We are working closely with our state government partners to ensure that this project creates jobs locally. While today’s announcement is important, this project – like any other proposed for the U.S. – can only proceed if the federal Investment Tax Credit that expires at the end of the year is renewed by Congress.”

– Jeffrey Grybowski, Deepwater Wind CEO

[mappress]

Press release, June 5, 2013