Babcock & Brown, one of the world’s top wind project developers, has acquired Bluewater Wind, which has been trying to develop Delaware Offshore Wind Park. The Park’s price tag of $1.6 billion is now more likely to get funded given B&B’s strong financial position and ability to raise additional funds as needed.
Bluewater President Peter Mandelstam said “Bluewater’s new partnership with Babcock & Brown provides us with the commitment, strength, reliability and financial backing to successfully develop the Delaware Offshore Wind Park, helping to ensure it will provide stable-priced, affordable, and clean, renewable power to Delmarva Power’s customers for many years to come.”
In other news, NY-based EverPower Renewables Corp., which develops utility-grade wind projects, has secured $55 million in financing from European private equity investor Good Energies. The investment will help EverPower expand its pipeline of new projects – it’s currently developing over 1.5 GW of projects in seven states.
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