Cape Wind seals turbine deal – Trying to pass it off as “construction” Using your money to destroy Nantucket Sound.
Just days before an important deadline to qualify for crucial federal tax credits, Cape Wind has signed a deal with Siemens to build the project’s turbines and an electric service platform to convert its power for transmission. The contract formalizes an announcement three years ago that Siemens would build the 3.6-megawatt turbines for the proposed Nantucket Sound wind farm but does little to mollify critics of the project, who argue it’s a desperate attempt to qualify for the tax incentives. Read more@capecodonline 08:57
Why aren’t the people of Massachusetts screaming over this bad deal?
More so, why do we see this type of foreign investment, when in America within the coming few years could be close to energy independent, if the Obummer Administration would just get out of the way of American based free market energy producers?
“Cape Wind, which announced earlier this year that the Bank of Tokyo-Mitsubishi UFJ would take the lead on financing the project and that a Danish pension fund had promised a $200 million investment in the project, expects to secure financing by the second or third quarter of 2014, Rodgers said.”
Federal Funds should not be available to Non-American Companies or American Companies that OUTSOURCE! Otherwise outsiders will Ante-up while the Fed. fills the POT.
The cost of this Power is far more expensive then other Forms. Proper studies have not been made to insure the safety of the Habitat. Not to mention the displacement of truly renewable Resources specifically the Fisheries.
This Gold rush for Ocean Wind Farms is based on Fools Gold “PYRITE” it glitters but it’s far from GOLD.
When the Grid goes down in the Winter Who and How will it be serviced? Not to mention if it counts for a sizable portion of the Grid the replacement POWER will be OUTRAGEOUSLY COSTLY.
This is just another example where “COMMON SENSE IS NO LONGER COMMON”.