The Department of Interior has signed the first lease for a commercial wind energy project located in federal offshore waters. Cape Wind Associates, LLC is planning to install 130 3.6 MW wind turbines in a grid pattern on the Outer Continental Shelf off the coast of Massachusetts.
The lease, which is effective November 1, 2010, has a 5 year site assessment term and 28 year operations term with annual rent of $88,278 (based on $3.00/acre) prior to commercial operations, and then an operating fee based on capacity. The 7 page lease includes an 11 page appendix largely devoted to calculating the operating fee and a 35 page appendix with environmental and other similar terms and conditions.
DOI information relating to the project can be found at http://www.boemre.gov/offshore/RenewableEnergy/CapeWind.htm
Leave a Comment so far
Leave a comment
