Offshore R.I. wind power projects proposed

NEW YORK (Reuters) - Allco Renewable Energy Group said on Monday that it plans to develop up to four offshore wind power projects in Rhode Island.

In a release, Allco Renewable, a New York based renewable energy investment firm, said it submitted eight preliminary permit applications to the Rhode Island Coastal Resources Management Council (CRMC) on September 21.

The company proposed to install up to 338 wind turbines at the four sites - one south of Block Island, two south of Little Compton in Rhode Island Sound and one east of Fishers Island.

Jim Wavle, Allco Renewable Managing Director, said the timing and the cost of the project depended upon the state's permitting process. Rhode Island does not yet have any regulations on the permitting of wind farms.

If all goes well, Wavle said construction could start in the first quarter of 2009 with commercial operation a year later at a cost of $1 billion to $2 billion. He said the ultimate timing and cost will depend in part on the permitting process.

Allco applied for eight permits, four to install meteorological masts at the four sites to determine how much wind is actually available and four to install the turbines.

Wavle said Allco picked Rhode Island because the state has shown a strong commitment to the development of wind power.

WHY RHODE ISLAND

In January 2006, Rhode Island Gov. Donald Carcieri established the RIWINDS program to promote development of wind energy in the state with a goal that 15 percent, about 150 megawatts, of the state's electric demand come from wind power.