It is under consideration for 12 years amiding doubts about its funding, concerns about the impact on the environment and barriers by representatives of the oil industry, but the first marine wind farm in the United States are now closer than ever to be constructed, as greater Japanese bank agreed to provide funds for the construction. The bank Tokyo-Mitsubishi UFJ announced this week that it will provide a “significant amount” of debt capital for the development and construction of the Cape Wind, which will consist of 130 wind turbines 3,6 MW each . The responsible manager, Takaaki Sakai, said the bank is impressed by the perseverance of the leaders of the project.
The construction of the offshore wind farm, off the coast of Massachusetts, will cost $ 2.5 billion. The Japanese bank did not reveale the amount it intends to cover, but the Cape Wind president, Jim Gordon, said that they have already found buyers for two thirds of the energy generated by the park. According to the website Clean Technica, the Ministry of Interior of the United States gave the “green light” to begin operations in 2010. However, residents of Massachusetts coastal region, among them the heir of the refineries Koch, appealed to Justice expressing concerns about the project in an environmentally sensitive area.
After the agreement with the Japanese bank, however, the management of Cape Wind believes that work will begin in 2013. Once completed, the water park is expected to cover three quarters of the energy needs of the region, reducing the production of carbon dioxide emissions by 318 tons per year. Moreover, the construction of the park will be employed thousands of people, and will create 150 permanent jobs.