Citi and GE Energy Financial Services

overview

Deepwater Wind – Block Island is the first ever off-shore wind farm power project in the U.S.  Major financial backers of this breakthrough project, Citi and GE Energy Financial Services, hired Burns as local counsel to help vet a broad range of permitting and regulatory compliance issues to support their tax equity financing for the Block Island Wind Farm project off the coast of Rhode Island.

Working closely with Deepwater’s law firm to ensure that the local, state and federal requirements were met, Burns advised our clients on state and local environmental permits, utilities regulation and tax issues, as well as unique real estate and title insurance issues impacting a project in the ocean.  The financing from GE and Citi enables Deepwater Wind to complete the ownership structure of the Wind Farm, which will provide most of Block Island’s power with clean, renewable energy, and provide a link to the northeast power grid for years to come.