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Wind power producers concern over fallout from Cape Wind project
1 July 2006
US wind power producers are concerned about suffering collateral damage in the political turmoil surrounding the controversial Cape Wind offshore project, proposed for waters off the coast of Massachusetts in the US Northeast. "With respect to offshore, in particular the Cape Cod project, it is focusing a lot of national attention that is not putting the best light on the wind industry," PPM Energy Terry Hudgens told a media briefing at this year's American wind industry conference. "We are all focused on the onshore business, because that is where the economics work, that is where our demand is, and in most places onshore we are welcomed by the communities where we are doing business. My concern is that we will take collateral damage from a lot of very vocal and powerful opponents of some of the offshore wind." Alan Waxman of Goldman Sachs said his company is not a big believer in offshore wind. "Just as a business matter, we don't see offshore wind as an opportunity that we need to attack today. We don't think the economics are there," he said. "Over time, could they get there? Yes, they could. Over time, when there is market saturation onshore, then that is the time to focus on it."
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