OffShore Wind Project Approved for Cape Wind

By Admin
The Department of Public Utilities approved the first ever United States offshore wind power contract between National Grid and Cape Wind. The 15 y...

The Department of Public Utilities approved the first ever United States offshore wind power contract between National Grid and Cape Wind. The 15 year contract approved the Massachusetts based facility at 18.7 center per kilowatt-hour in 2013, which will rise by 3.5 percent over the period of contract.

“This contract fulfills a statutory mandate under the Green Communities Act to facilitate the development of renewable energy generation, and it does so with strong protections for ratepayers,” said DPU Chair Ann Berwick. “It is abundantly clear that the Cape Wind facility offers significant benefits that are not currently available from any other renewable resource, and that these benefits outweigh the costs of the project.

"Not only does the contract support the largest renewable energy project proposed in New England, it provides protection for consumers against the volatility of fossil fuel prices for a portion of electricity purchases. We are fully persuaded that if Massachusetts is to meet its statutory renewables and greenhouse gas emissions reduction requirements, offshore wind, and Cape Wind in particular, will have to be part of the mix.”

Those opposed to this contract have focused on the price differences from onshore wind projects like the one in Maine’s Kibby Mountain, which sets the price at less than 11 cents per kWh. However, the 25 year power purchase project was only partially approved, as the Department of Public Utilities claimed the companies were not clearly identifying a utility to buy the power in their initial proposal.

The prices weren’t a concern of the DPU, who indicated that electrical markets fluctuate for customers, and offshore wind turbines would reduce any possibility.

Source: OPT



 

Share
Share

Featured Articles

Chevron’s hydrogen investment and green energy endeavours

President of Chevron New Energies Jeff Gustavson comments on its hydrogen input and further renewable energy exploits to come from the leading energy firm

Honeywell debunks hydrogen energy and its global challenges

Maya Gomez, Director of Green H2 CCM at Honeywell, uncovers the different types of hydrogen and the challenges of applying them for more sustainable energy

ABB Motion & WindESCo partner to strengthen wind energy

ABB Motion invests in WindESCo to sustain wind turbine performance, in a renewable energy drive that will help ABB in its net zero ambitions

Shell Energy UK and Germany acquired by Octopus Energy

Utilities

Sustainability LIVE links to energy and electrification

Sustainability

Green energy: A hot topic at Sustainability LIVE 2023

Sustainability