Google-Backed $5 Billion Wind Plan Gets Rate Lowered by U.S.
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A Google Inc.-backed project to build a $5 billion undersea power line carrying wind energy along the coast from New York to Virginia won U.S. approval for a 12.59 percent profit, less than the developers requested.
The Federal Energy Regulatory Commission today granted the return on equity to the Atlantic Wind Connection, a project in which Google of Mountain View, California, owns a 42 percent stake. Atlantic Wind sought 13.58 percent.