Lake Erie wind farm receives $40 million in government funding

Lake Erie wind farm receives $40 million in government funding

DOE funds wind turbine projects (wind farms)

The United States Department of Energy (DOE) has invested $40 million into the first freshwater offshore wind farm in North America.
Local wind energy firms were vying for the project, and finally Lake Erie Energy Development Co (LEEDCo) received the go ahead in a decision that surprised some. Their proposal includes six, 3.45MW wind turbines with an innovative type of foundation that does not require pile-driving into the bedrock of the lake bed.
An analysis done by DOE explained:
“The innovative Mono Bucket foundation will reduce installation time, costs, and environmental impacts compared to traditional foundations that require pile driving,”
“The Mono Bucket not only is a solution for the Great Lakes, but also has broader national applicability for offshore wind installations off the Atlantic and Gulf Coasts.”
A Ranking Member of the U.S. House Energy and Water Appropriations Subcommittee, Marcy Kaptur said: “Lake Erie is the Saudi Arabia of wind, and today’s award should be a gusher for northern Ohio,”
“This wind power project will begin to unleash Lake Erie’s full renewable power potential and contribute to creating a more competitive energy marketplace.”
“This announcement today seems perfectly suited to Cleveland, the first city in America where the electric wind turbine was invented. With this announcement today, Cleveland carries American innovation forward in this new millennium.”
LEEDCo’s wind farm project has received roughly $50 million in government grants but will require an additional $70 million which they will raise through a combination of loans and private equity investors.

Posted By Sally on June 9, 2016 | 0 Comment

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