Developer chosen for Rhode Island's offshore wind farm

Deepwater Wind has been chosen as the developer to construct a wind energy project off the shores of Rhode Island. 

It is expected that the project will cost in excess of $1 billion to construct and the funding coming all from private investment sources.

The project will provide 1.3 million megawatt hours per year of renewable energy (15 percent of all electricity used in the state).

Governor Donald L. Carcieri, who made the announcement regarding the selection of Deepwater Wind, said, "Wind power is clean, green power that is not subject to variations and increases in fuel price. Rhode Island is uniquely positioned to lead the nation with the development of this country's first off shore wind farm."

Terming the latest initiative as much more than an energy project, Carcieri said, "This is about creating a new industry in Rhode Island; an industry that puts Rhode Island at the epicenter of the emerging alternative energy market. Deepwater Wind will help bring new economic activity, jobs and opportunity to Rhode Island."

For its part, Deepwater Wind has pledged a significant private investment in Rhode Island of approximately $1.5 billion with the construction of a regional manufacturing facility in Quonset, and creating up to 800 direct jobs, with annual wages of $60 million.