Cape Wind selects contractor to build $2.6bn offshore wind farm

Cape Wind chose a joint venture team of Flatiron Construction, Cal Dive International and Cashman Equipment as the contractor to build the country’s first offshore wind farm in Nantucket Sound, US.

The 468MW offshore wind project estimated to cost $2.6bn will use 130 turbines and is expected to produce electricity by the year 2014.

Cape Wind president Jim Gordon said, "We are confident this is the right team with the best skills and capabilities to successfully build Cape Wind and create hundreds of jobs in the region."

As the preferred contractor the joint venture, of which Cal Dive will own a significant minority interest and will provide project planning, financing services including refinement of the project cost and construction.

The company is looking to finance the project by selling 27% of electricity to the utility NStar, from the expected generating capacity of 468MW, reports The Associated Press.

NStar agreed to the purchase deal after the state of Massachusetts approved its acquisition by Northeast Utilities.

Cape Wind has sold almost three quarters of the total power to be generated from this project to committed buyers.

Final contract will be awarded this year and project construction is expected to begin next year.

Cape Wind encouraged the joint venture between the three companies to look for subcontracting opportunities with the local firms for competitive equipment or services.

Cashman Equipment is a provider of floating marine equipment, Flatiron Construction Corporation is a provider of construction and civil engineering services while Cal Dive International is an offshore energy marine construction and manned diving firm.