First US offshore windfarm 2 billion Japanese dollars closer to reality

The plans for the first full-scale American offshore wind farm have received a massive boost from the Bank of Tokyo-Mitsubishi UFJ.

The Japanese bank have signed a term agreement to become the Coordinating Lead Arranger for the Cape Wind wind farm.

The money is to be spent on development and construction costs for Cape Wind, which will be situated in the Nantucket Sound off the coast of Massachusetts.

The wind farm will consist of 130 turbines, each 258 feet tall and the total potential power output has been calculated to be 468MW.

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