Va. Moving To Speed Offshore Wind Development
By STEVE SZKOTAK
RICHMOND, Va. (AP) The federal government cleared the way Thursday for Virginia to seek a research lease in its Atlantic coastal areas to help speed the development of offshore wind turbines.
The move would allow for greater study of wind, waves and wildlife in a 130-square-mile set aside for wind development. The announcement by U.S. Interior Department's Bureau of Ocean Energy Management was welcomed by Gov. Bob McDonnell, energy companies and proponents of clean energy.
"The quicker the Virginia Department of Mines, Minerals and Energy can study our coastal areas for their wind energy potential, the sooner private companies can gain the data they need to move forward," McDonnell said in a statement.Bidding is expected later this year by up to 10 energy companies interested in building wind farms in the federally designated leasing area 27 miles off Virginia Beach. The companies include Energy Management Inc., developer of the nation's first offshore wind project off Massachusetts' Cape Cod, and Dominion Virginia Power, the state's largest electric utility. The data collected by research platforms positioned in the northern and southern portions of the leasing area are critical to developing wind energy and spares energy companies the cost of gathering the information. Besides wind and waves, the platforms would also gather information on birds and bats, which are potentially threatened by rotating blades of wind turbines rising hundreds of feet above the ocean surface. Virginia is also partnering with a company that will survey the ocean bottom. The offshore leasing area was carved out of the busy Atlantic waters following negotiations involving the Navy, Coast Guard and port officials, among others. Advocates of offshore wind power say 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV