Discover, October 12 2010.
A huge offshore wind energy project took a leap forward today with the announcement that Google and the investment firm Good Energies are backing the mammoth underwater transmission lines that would carry clean electricity up and down the East Coast. The $5 billion dollar project would allow for wind farms to spring up all along the mid-Atlantic continental shelf.
Google and Good Energies will both be 37.5 percent equity partners in the clean energy infrastructure project; the Japanese industrial, energy, and investment firm Marubeni will take a 15 percent share. The project, proposed by a Maryland-based company called Trans-Elect, would set up a 350-mile long energy-carrying backbone from Virginia to northern New Jersey, first allowing the transfer of the south’s cheap electricity to the northern states, and later providing critical infrastructure for future offshore wind projects. Read More >