Cape Wind project faces Dec. 31 deadline

BOSTON (AP) — As it seeks investors, a project off the Massachusetts coast that aims to be the nation’s first offshore wind farm must reach fast-approaching benchmarks or risk missing out on hundreds of millions in critical funding. To qualify for a tax credit that would cover a major portion of its capital costs, Cape Wind either must begin construction by Dec. 31 or prove it’s incurred tens of millions of dollars in costs by then. Also, a $200 million investment — the only one of a specific dollar amount Cape Wind has announced — is conditioned on whether developers can fully finance the rest of the project by year’s end. [email protected] 20:35

  • jj

    I am sure they have generated tens of millions of dollars of, “Wind,” and will have no trouble meeting their benchmarks for even more wind in the future. The question of whether they get any power generated remains to be seen.