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SouthCoast Wind became the second Massachusetts offshore wind developer to move to pull out of its contract with the state, citing rising costs. State Sen. Michael Barrett says the news will may delay the state's climate goals, "but only for a year or two.”
A second offshore wind company is seeking to terminate its contracts with Massachusetts electric companies over rising costs. The action by SouthCoast Wind follows Commonwealth Wind, which made the same decision late last year. Both still plan to build, but they say the contract prices are no longer workable due to inflation, interest rates, and supply chain issues. In May, SouthCoast Wind CEO Francis Slingsby told CAI in an interview that the company plans to bid again, in the next round.
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SouthCoast Wind Energy has asked to end offshore wind power purchase agreements with Massachusetts electric distribution companies, citing rising costs.
SouthCost Wind, the company behind a wind turbine project that would connect to Brayton Point plans to withdraw from its contracts with the state.
The developer behind SouthCoast Wind wants to cancel its contracts and secure more money to build 1,200 megawatts of offshore wind power, throwing uncertainty over a majority of the already-approved energy capacity in the state's offshore wind pipeline.