US' first offshore wind farm gains tax equity from GE and Citi
General Electric (GE) and Citigroup have closed tax equity financing for Deepwater Wind's Block Island Wind Farm, the first offshore wind farm in the US. Construction of the 30 MW wind farm was completed in August and commercial operations are expected to start in November. GE Renewable Energy is providing five 6 MW turbines, as well as long-term services and maintenance for the project. The deal contributes to Citi's goal to invest $100bn over 10 years in activities related to reducing the impact of climate change.

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