Babcock & Brown cancels wind farm off Texas

Babcock & Brown has cancelled a lease for a wind farm off the Texas coast that would have been the biggest offshore wind farm in the United States, the company said.

The cost, in the billions of dollars, was simply too much for the wind developer to invest for the relatively low-cost Texas electricity market. Babcock & Brown had not progressed very far with the project and considered it only an option. No plans had been made for the size or make of the turbines that would have gone offshore.