On May 13, 2011, the Director for Cape Wind Communications announced that the Department of Energy (“DOE”) has placed the Cape Wind Project loan guarantee application “on hold.”   The national offshore wind project will not be able to be processed by a September 30th federal deadline, but the project will still continue to pursue the loan. 

The Cape Wind Energy Project will be 130 3.6+ MW generator turbines placed offshore in a grid pattern in the Nantucket Sound, Cape Cod, Martha’s Vineyard, and Nantucket Island, and recently the Department of Interior gave final approval needed to break ground on the project (see April 25, 2011 edition of the WER).  The project developer is Energy Management, Inc. (“EMI”), and it is uncertain if EMI will be able to obtain project financing for Cape Wind without the DOE loan.

A link to the Cape Wind statement on this matter is available here.