This Day On The Street
Continue to site
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

Meeting Launches Virginia Offshore Wind Panel


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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.58 -0.47%
FB $97.90 -5.90%
GOOG $666.94 -2.40%
TSLA $147.12 -9.50%
YHOO $26.94 -3.70%


Chart of I:DJI
DOW 15,829.27 -375.70 -2.32%
S&P 500 1,831.82 -48.23 -2.57%
NASDAQ 4,222.8620 -140.2820 -3.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs