Cape Wind Secures USD 600 Mln Boost from Denmark

Cape Wind has ensured a cash injection worth USD 600 million for its Cape Wind offshore wind project from Danish Export Credit Agency (EKF), Jim Gordon, the company’s president, announced yesterday.

Cape Wind informed via social media that Mr. Gordon brought the news while speaking at GreenPower’s USA Offshore Wind Conference in Boston, saying that the EKF approved the loan pending due diligence.

Last year, the pension fund PensionDanmark said that it was funding a conditional investment commitment of USD 200 million in the Cape Wind offshore project.

The EKF’s bulky funding sends out a positive signal to other financial stakeholders and it is a major push forward for the project, Reuters quotes Cape Wind spokesman Mark Rodgers as saying.

Cape Wind is America’s first offshore wind farm project. It will be built on Horseshoe Shoal on Nantucket Sound, offshore Massachusetts.

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Offshore WIND Staff, February 27, 2014; Image: Cape Wind