Fred. Olsen Renewables to develop offshore wind project in Cleveland
Date
December 09, 2015
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According to the Cleveland Plain Dealer, Norway's Fred. Olsen Renewables AS has agreed to overtake the development of a 20 MW offshore wind project in Cleveland, United States, from the non-profit organization Lake Erie Energy Development Co, or LEEDco.
Fred. Olsen, who signed a deal to buy project-related research assets from LEEDco or an undisclosed price, has already incorporated a US subsidiary to develop the $120-million six-turbine pilot project planned for Lake Erie in Cleveland.
The company could get a US$40 million from the US Department of Energy next summer and it would be already in talks with a potential financier for the project.
According to sources, the project would be the first one of Lake Erie’s roughly 5-GW potential.
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