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Google and Good Energies, a New York-based investment firm that specializes in renewable energy, have both agreed to take a 37.5 percent stake in the initial development of an offshore wind installation. The proposed project site is in the Atlantic Ocean and it could deliver power to approximately 1.9 million households.
“The 350-mile Atlantic Wind Connection (AWC), which Trans-Elect Development hopes to start construction on by 2013, would stretch from New Jersey to Virginia and provide an underwater backbone at least 15 miles offshore for multiple wind farms. The first phase of the project, for which the estimated cost of construction is at least $5 billion, could go into service as early as 2016.”
(via Google to Sink Big Bucks in Massive Offshore Wind Project | Business | GreenBiz.com)
