DOE Commits $180M To Offshore Wind

Law360, New York (March 2, 2012, 3:15 PM EST) -- The U.S. Department of Energy on Thursday announced a six-year, $180 million initiative to spur offshore wind power projects, part of what officials dubbed an “all-out, all-of-the-above approach” to developing domestic clean energy.

The department will fund up to 80 percent of selected projects' design costs and 50 percent of the cost of hardware and installation. Developers must submit letters of intent by March 30 and applications by May 31.

About $20 million is earmarked for the current fiscal year. President Barack Obama has set a...
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