Cal Dive Pursuing Offshore Wind Industry with Cape Wind Project Award

Cal Dive International is officially entering the offshore wind market, announcing today that the joint venture formed with Flatiron Construction Corp. and Cashman Equipment Corp. has been selected as the “preferred” construction contractor for the Cape Wind Project, America’s first offshore wind project to be located on Nantucket Sound.

As the “Preferred Contractor” the joint venture, of which Cal Dive will own a significant minority interest, will assist Cape Wind, on an exclusive basis, in project planning, financing and refinement of the project cost and construction.

“We are pleased to announce our first entry into the offshore wind market as part of this joint venture,” said Quinn Hébert, President and CEO of Cal Dive. “In addition to being a market leader in the Gulf of Mexico marine construction market, Cal Dive has successfully completed multiple offshore construction projects in the Northeast United States. We bring over thirty-five years of marine construction experience to the Cape Wind Project and we are excited about the opportunity to expand our business into the offshore wind sector. Obtaining this designation is part of our strategy to pursue integrated projects outside of the oil and gas industry.”

The joint venture includes Boston-based Cashman Equipment Corp., one of the leading providers of floating marine equipment in the country, and Colorado-based Flatiron Construction Corp., a  leading construction and civil engineering firms in the U.S.

Cape Wind President Jim Gordon said, “We are confident this is the right team with the best skills and capabilities to successfully build Cape Wind and create hundreds of jobs in the region.”

Final award and execution of the project construction contract is expected to occur in 2012, with project construction expected to begin in 2013.

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