As part of the agreement Siemens will supply 3.6MW offshore wind turbines, an offshore electric service platform (ESP), and a long-term service agreement. Located in the Nantucket Sound, the project is scheduled to be commissioned by 2016. The project is the third U.S. contract Siemens signed within a week’s time.
Siemens Energy Sector chief executive officer Michael Sub says, “Following the biggest onshore wind order ever and a follow-up order for a highly efficient and flexible gas-fired combined cycle power plant in Pennsylvania, we have now signed a contract to provide wind turbines and service for the first commercial offshore wind farm in the US.”
Construction is expected to take 18 months over four distinct phases: turbine manufacturing, upland cable, offshore electric cabling, and park construction.
Previously in November 2012, the Massachusetts Department of Public Utilities approved a 15-year power purchase agreement (PPA) between NSTAR and Cape Wind for the project’s output and associated renewable energy credits.
The project will feature as many as 130 Siemens turbines that will generate enough electricity to power approximately half a million homes and reduce carbon emissions by more than 777,000 tons annually.
According to Siemens, Cape Wind had appointed The Bank of Tokyo-Mitsubishi “as its coordinating lead arranger of the commercial bank portion of the total debt financing for the project, while Barclays is its sole financial advisor.”