% | $
Quotes you view appear here for quick access.

DVR Message Board

  • jeffreylhook jeffreylhook Mar 20, 2013 4:35 PM Flag

    Financing for Cape Wind

    I just heard on Bloomberg Radio that Bank of Tokyo Mitsubishi announced it would provide financing for the Cape Wind project. Yes, DVR's been "demoted" from prime contractor to bidding on one sub-contract, but it may be a shoe-in for that contract, due to its assumed pre-eminence in manned diving. The "demotion" seemed to occur (based on Hebert's comments during the last CC) due to the project's need to save money, and this promise of financial support may get things moving...

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Nine reports of this news are offered at the project's news page. (I've not yet seen any of them but I assume some of them are duplicates of the same press release. I guess the Bank of Tokyo's site may provide the best report of this news.) For the project's site Google "capewind" with the usual "org" suffix.

      • 1 Reply to jeffreylhook
      • You might want to try this search string in Google News:
        "cape wind" OR capewind "bank of tokyo"
        The Toronto Globe and Mail published this Reuters report yesterday:
        Home - Report on Business - Industry News - Energy & Resources
        Wind farm expects construction start off Cape Cod by year-end
        Published Tuesday, Mar. 19 2013, 5:24 PM EDT
        Last updated Tuesday, Mar. 19 2013, 5:26 PM EDT

        Cape Wind said Tuesday it expects to complete financing for its long-delayed 468-megawatt offshore wind farm and start construction of the project in U.S. federal waters off Cape Cod, Mass., by the end of the year.

        Cape Wind said in a statement it selected Bank of Tokyo-Mitsubishi UFJ, a unit of Japanese bank holding company Mitsubishi UFJ Financial Group, as its co-ordinating lead arranger of the commercial bank portion of the debt financing for the project.

        I also see a citation of a recent Bloomberg report, etc.