With the world mostly covered by water, there is a tremendous opportunity for companies that are able to optimize this fact for the betterment of mankind. There are strategies that thrive in a watery landscape and businesses that know how to take advantage can start opening some doors to future innovation.
According to recent press release, electronics and electrical engineering company Siemens has signed a deal for the first U.S. off shore wind project. The company won a bidding war for a project from private developer Cape Wind Associates that entails the organization supplying its 3.6-megawatt (MW) offshore wind turbines and an Electric Service Platform (ESP). This creates the first commercially approved and permitted offshore wind farm in the United States allowed by the U.S. Department of Interior.
"Under the terms of the agreement, Siemens will fabricate, install and commission its 3.6-MW offshore wind turbines for Cape Wind," the release reads. "At the same time, the German conglomerate has signed a long-term maintenance contract for the wind turbines and ESP for 15 years."
The company will also be creating jobs in Falmouth Harbor on Cape Cod with the creation of a service headquarters. This is all being done with the goal of launching a domestic offshore wind industry and supply chain by generating environmentally-friendly energy in Massachusetts.