BOSTON (AP) — As it seeks investors, the Cape Wind offshore wind farm faces fast-approaching benchmarks that it must meet or risk missing out on hundreds of millions of dollars in critical funding for the oft-delayed project.
To qualify for a tax credit that would cover a major portion of its capital costs, the wind farm off the Massachusetts coast must begin construction by Dec. 31 or prove it's incurred tens of millions of dollars in costs by then.
Also, a $200 million investment from a Danish pension fund is conditioned on whether developers can finance the rest of the $2.6 billion project by year's end.
Cape Wind isn't discussing progress on construction, the tax credit or financing. But spokesman Mark Rodgers said the project remains on track and will be built.
SPRINGFIELD, Mo. (AP) - A Springfield utility is planning to partner with two companies to build what would be the largest solar farm in Missouri.
City Utilities says it will work with Solexus Development in St. Louis and Strata Solar of North Carolina to build the 4.95 megawatt system, with construction to begin next spring.
The Springfield News-Leader reports the companies expect to finalize a contract Monday. The system will be built on 57 acres next to an existing City Utilities generation station near Springfield.
Under the 25-year agreement, Solexus will develop the project and Strata Solar will build, finance and operate it. City Utilities' will connect the system to existing infrastructure, then buy the solar power the system produces.
The system is expected to produce about 9.6 million kilowatt hours per year.