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Cape Wind Getting $150 Million Energy Department Loan Guarantee

Cape Wind Associates LLC received a conditional $150 million loan guarantee from the U.S. Department of Energy for its project off the coast of Massachusetts.

Cape Wind will receive the loan guarantee after securing the balance of an estimated $2.6 billion in project financing, with about a quarter of the funding coming from the sale of equity, said Peter Davidson, director of the department’s loans program. It would be the first utility-scale wind farm in U.S. waters.