Siemens AG has offered to provide debt and equity financing for the proposed Cape Wind project, Bloomberg reports.
‘We've always made it clear that we are not only willing but also capable of helping to support the whole project,’ Josef Kaeser told Bloomberg in an interview in Washington, D.C., Wednesday.
The U.S. Department of Energy notified Cape Wind LLC last month that its application for a loan guarantee could not be completely processed by the program's Sept. 30 deadline. As a result, the application was put on hold until further resources are available to the loan-guarantee program.
Cape Wind has proposed a 130-turbine project off the coast of Massachusetts.