Major Financing Deal Puts Rhode Island Project on Track as Nation's First Offshore Wind Farm

Deepwater Wind, the Providence, R.I.-based developer behind the Block Island project, recently announced that it had closed on more than $290 million in financing from American and French backers.

“We’re full speed ahead and moving ever closer to ‘steel in the water,'” Deepwater Wind CEO Jeffrey Grybowski said in a statement. “We’re on the cusp of bringing offshore wind from theory to reality in the U.S.”

The project, which will comprise five turbines located about 3 miles off Block Island and about 18 miles from the mainland, is also fully permitted.

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Date Posted: 3/11/2015