Stay updated with breaking news from Coast Wind. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Earlier this week, another offshore wind developer canceled agreements to sell power to local utilities - this time in Connecticut - because the previously agreed upon prices for that power was too low to cover the rising cost of building the project. The three states will seek multi-state offshore wind proposals for selection in 2024 for up to 6,000 megawatts (MW) of power.
The Department of Public Utilities approved SouthCoast Wind's proposal to pay utility companies a combined $60 million and terminate contracts it previously...
With legal deadlines looming on the path to more clean energy, Massachusetts has now lost three-quarters of the offshore wind capacity once in its pipeline after regulators allowed another developer to back out of contracts for a major installation.
The news comes two months after Rhode Island Energy rejected the sole bid for an 884-megawatt project because of affordability concerns.
The U.S. offshore wind industry appears to have encountered turbulence in recent weeks, a development which could complicate President Joe Biden’s climate agenda.