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With the majority of members saying it’s premature to take an official stance at this time, the Town Council Monday declined to support a Little Compton resolution urging SouthCoast Wind to explore a cable path over land in Westport, rather than through the Sakonnet River.
The state’s top energy regulator vented over the “Hobson’s Choice” posed when offshore wind developers seek to renege on their contracts with utility companies.
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.
Rising interest rates and materials costs have scuttled two of the state’s three offshore wind farm projects, as Healey admin prepares to take bids for the biggest yet.