This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Meeting Launches Virginia Offshore Wind Panel

STEVE SZKOTAK

RICHMOND, Va. (AP) â¿¿ The Chesapeake Light Tower, a 1965-vintage lighthouse 13 miles off Virginia Beach, could find new life illuminating the potential for wind farms off the state's coast.

The light, which has been declared government surplus, is being looked at as a platform for instruments to collect meteorological, oceanographic and environmental data. The offshore wind industry, investors and suppliers will seek that information before investing in what is an emerging technology in the United States.

In the world of fossil fuels, the ocean testing is akin to drilling a test well.

The prospect of using the light â¿¿ a tower rising 120 feet above the ocean surface on steel pilings â¿¿ was contained in a report presented Tuesday at the inaugural meeting of an eight-member state panel created to promote the development of offshore winds.

The Virginia Offshore Wind Development Authority meeting was devoted primarily to briefing members and presenting reports, including one by Dominion Virginia Power. The state's largest utility said its current transmission infrastructure has the potential to handle a large-scale offshore wind farm.

The panel's membership includes representatives from utility companies, investor groups, and others likely to have a stake in the development of offshore winds in Atlantic waters. One member, for instance, is with Orbital Sciences Corp., which is building a commercial spaceflight center on the Eastern Shore. NASA officials have expressed concerns about offshore activities because they might interfere with existing and future launch activities.

Bob Mathias, assistant to the city manager in Virginia Beach and a member of the authority, said the city is considering the purchase of the Chesapeake Light for long-range radar now located at a local military base. The Federal Aviation Administration has told the city that the radar's performance is diminished by high-rises, including the many that line the tourist city's oceanfront.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs