Cal Dive forming JV to pursue offshore wind projectNews // April 12, 2012
Cal Dive International is forming a joint venture with Flatiron Construction Corp and Cashman Equipment to pursue an offshore wind project.
The joint venture, of which Cal Dive will own a significant minority interest, has been designated the Preferred Contractor by Cape Wind Associates LLC for the Cape Wind Project on Nantucket Sound in the US.
The Preferred Contractor designation empowers the joint venture to assist Cape Wind, on an exclusive basis, in project planning, financing and refinement of the project cost of construction.
Final award and execution of the project construction contract is expected to occur in 2012, with project construction expected to begin in 2013.