GE Energy Financial Services and Citi closed tax equity financing on Deepwater Wind’s Block Island Wind Farm, the first offshore wind farm in the U.S.

“An innovative project takes thoughtful and hard-working partners to navigate all of the ‘first mover’ considerations. We couldn’t have asked for better institutions to partner with than Citi and GE,” said Bryan Martin, chairman of the board of Deepwater Wind and managing director of D.E. Shaw.

“We’re very proud that two world-class, U.S. companies have chosen to invest in America’s first offshore wind farm,” said Jeffrey Grybowski, Deepwater Wind CEO. “Their backing is a testament to the significance of this project and the strength of the American offshore wind industry.”

Deepwater Wind completed construction on the 30-megawatt Block Island Wind Farm in August, and commercial operations are expected to begin in November. The role of the D.E. Shaw group, principal owner of Deepwater Wind, remains unchanged with the addition of the two tax equity investors.