What is Coastal Point Energy today? What does it offer? Coastal Point has invested over $10 million over the last seven years in the development of the Advanced Wind Technology System that transfers technology and know-how from the 60 year old Gulf of Mexico oil and gas industry to the Wind Industry. The possession of this CPE "turn-key" cost-effective package enables CPE to design, construct, install and manage offshore wind farms for its own projects and for an EPC package for use by other owners/developers. Additionally, through many of these same applications and key construction alliances, Coastal Point can offer a comparable "turn-key" package onshore.
By producing a more economical offshore wind system, the cost per kilowatt hour of electricity generated can be significantly lowered and those savings passed directly to the power purchasing entity and, ultimately, the ratepayer and consumer. This will make wind energy generation costs significantly more competitive with existing fossil fuel generating systems.
Costal Point will provide the full spectrum of services - design, engineering, cost analysis, process management, material management, fabrication, inspection and review, installation and commissioning - necessary for the "turn-key" installation of offshore wind energy facilities. The Company believes it is the first entity in the U.S. with this "turn key" capability in the offshore wind energy business.
All of the technologies, methods and processes used to design, engineer, fabricate and install the Wind System are well tested. Each component of the Wind System meets or exceeds the codes and guidelines of the American Petroleum Institute - the same standards used to fabricate 1,000s of platforms that are operational in U.S. coastal waters today -- and is certified by the American Bureau of Shipping. The marine vessels to be employed for the installation of the Wind System - whether new designs or modifications of existing vessels - also meet strict design codes and guidelines and are certified according to U.S. Coast Guard standards.
"A renewable energy economy is a true opportunity to create new jobs, reinvigorate America's competitiveness and support the president's goal of doubling renewable energy in the United States. American innovation can be the catalyst that jumps starts a new clean energy Industrial Revolution."
Dr. Steven Chu, U.S. Secretary of Energy