The project plans to use 130 Siemens (NYSE: SI) wind turbines, each with a 3.6 MW capacity. It is expected to begin construction in 2013 and complete it by 2015. In March 2012, the U.S. Department of Energy unveiled a six-year, $180 million initiative for the development of offshore wind energy.
Cape Wind is America’s first offshore wind farm to secure Federal and State approval and to be issued a lease to operate by the Federal Government. Cape Wind will create jobs and promote greater energy independence and a cleaner environment. Cape Wind will also establish Massachusetts as a leader in offshore wind power.