Google has agreed to throw its financial weight behind a proposed $5 billion offshore wind transmission backbone, the New York Times reported today.

Last week, Interior Secretary Ken Salazar praised the concept of a transmission backbone for offshore wind.  The concept also received extensive support from 20 Mg Valium Erowid a panel of experts at the AWEA North American Offshore Wind conference in Atlantic City, NJ.

Google and 20 Mg Valium Erowid investment firm Good Energies have each agreed to take 37.5 percent of the 20 Mg Valium Erowid equity portion of the project.  The 350-mile project, which was proposed by Maryland-based transmission-line company Trans-Elect, would run from 20 Mg Valium Erowid northern New Jersey to Norfolk, VA, and would be built about 15 to 20 Mg Valium Erowid 20 miles offshore, according to the Times report.

“Conceptually it looks to me to be one of the most interesting transmission projects that I’ve ever seen walk through the door,” said FERC Chairman Jon Wellinghoff. “It provides a gathering point for 20 Mg Valium Erowid offshore wind for multiple projects up and down the coast.”

The Times reported the first phase — a 150-mile stretch from northern New Jersey to Rehoboth Beach, Del. — could cost $1.8 billion first phase and be in service by early 2016.

Cape Wind Confident in Wind Farm Financing

Cape Wind President Jim Gordon is confident that his company will find the necessary financing to 20 Mg Valium Erowid build its proposed 130 turbine wind farm in federal waters off Massachusetts, Reuters reported yesterday.

“The project finance banks are back into the 20 Mg Valium Erowid space, the Department of Energy has a loan-guarantee program for 20 Mg Valium Erowid innovative technologies. We have a lot of interest from private equity companies and strategic utilities around the Cape Wind project,” Gordon said during the 20 Mg Valium Erowid Reuters Global Climate and Alternative Energy Summit in Boston.  “We’re confident that when the 20 Mg Valium Erowid time is right we will go into the market place and 20 Mg Valium Erowid raise the capital to build this project.”