This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Companies Signal Interest In Offshore Va. Winds

By STEVE SZKOTAK

RICHMOND, Va. (AP) â¿¿ An energy company developing the nation's first offshore wind project is among the growing number of companies expressing interest in the federally designated wind-development area 27 miles off Virginia's coast.

Energy Management Inc., developer of the Cape Wind project in federal waters off Massachusetts' Cape Cod, and Sea Breeze Power Corp. alerted the federal Bureau of Ocean Energy Management that they might join the bidding later this year to develop wind energy in the 133-square-mile area off Virginia Beach. They join Dominion Virginia Power and seven other energy companies that have already expressed interest.

EMI confirmed it has submitted materials to qualify for participation in the coming auction, "should we choose to do so," a company spokesman said. Sea Breeze, a western Canada company, did not respond to requests for comment.

The development area was carved out of the Atlantic after extended negotiations involving the Navy, Coast Guard and port officials, among others. This section of the coast is one of the busiest on the eastern seaboard. BOEM said the interest by energy companies is gratifying.

"When you finally put forth a proposal for a wind-energy area and you receive this level of interest, then that does confirm that we're offering an area that has commercial interest," said Maureen Bornholdt, BOEM's program manager for renewable programs. "That's a good thing."

Gov. Bob McDonnell's top energy adviser, Maureen Matsen, welcomed the industry interest as well. She said Wednesday it "only confirms the unique value of the wind resource off our coast and the strong support attributes Virginia offers onshore."

Advocates of offshore wind power agree that the relatively shallow waters off Virginia are optimal for development and its port and shipbuilding industry offer an ideal platform to build and launch the towering turbines and blades that convert wind to energy.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,102.15 -101.22 -0.56%
S&P 500 2,099.63 -8.15 -0.39%
NASDAQ 4,972.3980 -7.5030 -0.15%

Partners Compare Online Brokers

Free Reports

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