energy

Cape Wind ‘short-circuiting’ New Bedford terminal

The delay in financing for Cape Wind, developer of the 130-turbine wind farm proposed for Nantucket Sound, is “short-circuiting” New Bedford’s marine commerce terminal, The Boston Herald reported.
Posted 10/24/11

NEW BEDFORD – The delay in financing for Cape Wind, developer of the 130-turbine wind farm proposed for Nantucket Sound, is “short-circuiting” New Bedford’s marine commerce terminal, The Boston Herald reported Monday.

The $35 million port terminal was expected to create 300 construction jobs and “hundreds” more permanent jobs. Cape Wind’s $2.5 billion wind farm project lost steam in May when the Department of Energy put a loan guarantee on hold.

Cape Wind has not yet secured private financing or a buyer for half of its power output, The Boston Herald said.

“As the Cape Wind project has taken longer than anyone expected, it’s delayed the urgency of getting the terminal ready,” said New Bedford Mayor Scott Lang. “Every day that goes by that we can’t put together the infrastructure ... is a day we’re literally delaying getting people back to work.”

Massachusetts Gov. Deval L. Patrick is also still negotiating private land for the terminal project, reaching only a “general agreement” with the owners of the 11 acres the project is slated for.

The Massachusetts Clean Energy Center said the marine terminal project is “progressing as can be expected,” given its size and complexity, according to the newspaper. The center also hinted that the project’s price tag could go up since the waterfront parcels has a combined assessed value of nearly $2 million.

“If Cape Wind had gotten the financial guarantees last spring ... we’d be there with cranes and shovels right now finishing things up,” said Lang to The Boston Herald. He now expects construction of the terminal to begin in February or March.

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