Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Dominion Resources, Inc. (D), NRG Energy Inc (NRG), General Electric Company (GE): One Energy Powerful Enough to Electrify our Nation – Four Times Over

Page 1 of 2

The future of U.S. energy is offshore – and we’re not talking oil. The government is doling out massive leases for cheap offshore wind projects, and Dominion Resources, Inc. (NYSE:D) grabbed its own piece of the pie earlier this week. With a new player in the mix, let’s see what offshore wind has in store.

Offshore wind 101
Offshore wind made its debut off the coast of Denmark in 1991 and has since spread worldwide. Most projects are located in shallow waters off the coast of Europe, but the U.S. is eyeing offshore wind as a potential player in the search for greener domestic energy sources.


With 53% of our population on coastlines, offshore wind could bring major power to the people . Offshore offers stronger and more consistent winds , and a 2012 report estimates offshore capacity at 4,223,000 MW – that’s four times our total current generation .

Where wind stands now
To say offshore wind is in its infancy would be an understatement. The U.S. has yet to complete a single offshore wind project, and worldwide there are just 50 farms totaling 4,450 MW of capacity . But that same amount again is under construction, and over 30,000 MW have been given regulatory go-aheads around the globe . With the right support, infant industries can grow fast.

In the U.S., first place will likely go to privately held Cape Wind Associates. The company plans to start construction later this year, plopping 130 turbines totaling 468 MW of capacity off the Massachusetts coast . According to Cape Wind, the project should be fully operational by 2015 .

Dominion Resources, Inc. (NYSE:D)’s purchase this past week isn’t a game changer, but it does set the power company up for potential projects. The $1.6 million lease is a drop in the bucket for an estimated 2,000 MW of capacity 27 miles off the coast of Virginia . With a $4 million matching grant to push R&D ahead, Dominion Resources, Inc. (NYSE:D) expects to install its first turbine in 10 years. While that might seem like a long time to wait, Dominion Resources, Inc. (NYSE:D)’s late entry into the offshore wind world gives it more staying power than NRG Energy Inc (NYSE:NRG) seems to have sustained.

Treading in murky water
In November 2012, BOEM leased 96,000 acres off the coast of Delaware to Bluewater Wind Delaware LLC, a subsidiary of NRG Energy Inc (NYSE:NRG). A lease is far from a fully franked wind farm, and the future of this project remains unclear.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!