Feds Lease Ocean Waters to Wind Farm Company
October 6, 2010
Boston.com reports that the proposed 130-turbine wind farm in Nantucket Sound was awarded the nation’s first lease for offshore commercial wind this morning. The announcement was made by U.S. Interior Secretary Ken Salazar.
The 28-year lease for 25 square miles in federal waters will cost Cape Wind, the company behind the wind farm, an annual fee of $88,278 and a 2 to 7 percent operating fee during production based on revenue from selling the energy.
“This is the beginning of a new era for our nation in offshore energy production,” Salazar said in a speech to the American Wind Energy Association in Atlantic City, where he was signing the lease this morning. “Responsibly developing this clean, renewable, domestic resource will stimulate investment in cutting-edge technology, create good, solid jobs for American workers, and promote our nation’s competitiveness, security, and prosperity.”
Read the full article:
U.S. Department of Energy: Secretary Salazar’s remarks.
What are your thoughts on the lease agreement?
- Should public waters be awarded to private concerns, which may limit access to boaters and fishermen?
- Is wind-generated energy worth that kind of sacrifice, and does it set a precedent for more leases of this type?