A disappointing loss just over two years ago (see our May 16, 2014 blog post) has turned to victory for the Lake Erie Energy Development Corp. (LEEDCo) as the U.S. Department of Energy (DOE) recently awarded a $40 million grant to the group’s Icebreaker wind turbine project, Cleveland.com reports. The project received three smaller DOE grants totaling $10.7 million (see our May 27, 2016 blog post), bringing the total federal share to more than $50 million. U.S. Rep. Marcy Kaptur, who announced the grant, said, “[t]here is something that will be born here that is larger than this installation. What will be born is the concept of a new grid, not just for this region but for the entire Great Lakes.” LEEDCo President Lorry Wagner said 15 local companies are already involved in the project, and the corporation hopes to attract more, with fabrication and construction creating 500 jobs. The total cost for the six-turbine freshwater wind farm is estimated at $120 million; LEEDCo’s European partner, Fred.Olsen Renewables (see our December 17, 2015 blog post), “is expected to raise the remaining $70 million through a combination of bank loans and private equity investors.” For more, read the full article.
Lake Erie wind turbine project scores big victory with $40M DOE grant
