Hedge Funds Back Offshore Wind Projects
September 29, 2008 – 8:36 pmTwo hedge funds have partnered in a project seeking to build a huge wind farm off Rhode Island that will provide 15% of that state’s power.
Deepwater Wind, which is owned by Ospraie Management, D.E. Shaw Group and First Wind, were chosen from seven groups that offered proposals to the Ocean State. Deepwater plans to build the $1 billion facility without public funding.
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