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Article: United States: Bluewater works on new financing.
- Article from:
- TendersInfo
- Article date:
- September 7, 2009
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Byline: datta003
Bluewater Wind expects to name a new investor within two months, pumping badly needed capital behind its plans to build a wind farm off Delaware's southern coast.
Peter Mandelstam, president of the offshore power development company, said he is confident a deal will be completed within 60 days with a new ownership partner and that Babcock and Brown, its embattled Australian financier, would be out of the project by the end of the year.
Mandelstam declined to name the potential partner, but said a cash infusion will keep the Rehoboth Beach wind farm project afloat until financial markets fully recover from last fall's meltdown. ...