News
Proposed wind farm gets gust of money; Australian energy company takes control of Bluewater
Word of the ownership change arrived as the Public Service Commission was slogging through Bluewater's proposal for a more than $1.6 billion, 450-megawatt project that would supply Delmarva Power under a long-term contract.
September 28, 2007
by Jeff Montgomery
in Delaware Online
A proposed 150-turbine wind farm off Rehoboth Beach got a shot of financial steroids Thursday, after a global energy and investment company bought control of project developer Bluewater Wind LLC.
Australia-based Babcock & Brown acquired "a majority controlling stake" in Bluewater's business, according to both companies, giving the smaller Bluewater backing from a company with $50 billion in assets worldwide.
Word of the ownership change arrived as the Public Service Commission was slogging through Bluewater's proposal for a more than $1.6 billion, 450-megawatt project that would supply Delmarva Power under a long-term contract. The commission could issue a recommendation on... [continue via Web link]
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