Big News for East Coast Offshore Wind: Google and Investment Firm Team up to install underwater electric transmission line. Tremendous spur to wind power. Excerpt from NY Times article below.
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. To see the whole article by Matthew Wald, go to wind story.
The project when implemented and even the announcement itself could cause a snowball effect in which other investors are encouraged to invest in specific projects. The Governors of most east coast states have endorsed offshore wind.
Offshore wind is a far more sustainable way to create energy and jobs than is offshore oil. See our post of June 28, 2010.