Cape Wind gets $600 million loan for Nantucket offshore wind farm

(Cape Cod Online, 26 February 2014) Cape Wind announced February 26th that a Danish credit agency has approved a $600 million loan for the proposed Nantucket Sound wind farm. Speaking at the GreenPower USA Offshore Wind Conference in Boston Cape Wind CEO Gordon said that EKF, the Danish Export Credit Agency, had informed Cape Wind of the loan's approval pending the “finalization of due diligence and completion of loan documentation.” Cape Wind, however, still faces a handful of legal challenges. Opponents filed the latest lawsuit challenging the project in January, only a day before the U.S. Court of Appeals in Washington, D.C., denied a petition by wind-farm opponents appealing the Federal Aviation Administration's approval of the project. A decision on whether Cape Wind will receive a $500 million U.S. Department of Energy loan guarantee is pending. Energy Department officials have so far declined to comment on the status of the loan.