WASHINGTON — Google and a New York financial firm have each agreed to invest heavily in a proposed $5 billion transmission backbone for future offshore wind farms along the Atlantic Seaboard that could ultimately transform the region’s electrical map.
The 350-mile underwater spine, which could remove some critical obstacles to wind power development, has stirred excitement among investors, government officials and environmentalists who have been briefed on it.
Google and Good Energies, an investment firm specializing in renewable energy, have each agreed to take 37.5 percent of the equity portion of the project. They are likely to bring in additional investors, which would reduce their stakes.
To read the full, original article click on this link: Wind Power Backbone Sought Off Atlantic Coast - NYTimes.com
Author: MATTHEW L. WALD
