Siemens Considers Backing Cape Cod Wind Farm

Photo: Sebastian Delaunay

Siemens, the supplier of turbines for Cape Wind, is in talks to finance the controversial offshore wind farm, which could be the first of its kind in the United States.

The project reached a breakthrough in November when the Massachusetts Department of Public Utilities approved it as a vendor for provider National Grid. Some environmentalists have protested the project, which would take up 25 square miles in Nantucket Sound.

The turbines would generate about 468 megawatts of power. Siemens, expecting a growth in the U.S. wind sector, has opened up an assembly plant for wind turbines in Hutchinson, Kan.

Wind power does not come cheap: The project is expected to cost about $2.43 billion, according to Bloomberg New Energy Finance. Because the project did not start construction before the end of the year, Cape Wind lost its chance at a 30 percent federal cash grant.

Siemens has reportedly offered to finance the project to ensure its own 130 turbines will be used.

“We have been in discussions to help finance debt and equity,” Siemens CEO Eric Spiegel told Bloomberg News. “We’d be willing to be a part if it’s required.”

You may also be interested in...

SBIRS GEO-5 Satellite Lockheed Martin

Lockheed-Made SBIRS GEO-5 Satellite Set for Launch Next Year

Lockheed Martin has announced the launch readiness of an upcoming military space satellite designed to provide missile warning via infrared technology. The company said Wednesday its fifth Space-Based Infrared System Geosynchronous Earth Orbit satellite or SBIRS GEO-5 is set for flight in 2021, following the satellite's completion in October this year.


Parsons Announces New Products for Cloud Native Streaming

Parsons has unveiled a new series of cloud products designed to help government and commercial customers process large amounts of data while ensuring lesser infrastructure costs. The company said Wednesday it will offer cloud native stream platforms to deliver the scalability needed to maximize cloud resources.


Bitglass Gets FedRAMP OK for Secure Cloud Access Offering

Bitglass has earned a certification under the Federal Risk and Authorization Management Program for a platform developed to protect any interaction between devices, applications, on-premises resources, infrastructure and web destinations.