Sunday, November 27, 2022

Massachusetts wind power project ‘no longer viable’ without contract adjustments, says developer

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  • The developer for a major offshore wind project in Massachusetts has asked state regulators to pause review of the contract for one month, saying that global price hikes, inflation and supply chain shortages are disrupting the plan.
  • The Commonwealth Wind project, which would supply 1,200 megawatts of offshore wind power starting in 2028, “is no longer viable and would not be able to move forward” under the terms of contract, according to a motion recently filed by the developer.
  • The rising cost of the Massachusetts project comes as the U.S. aggressively ramps up its offshore wind industry. The Biden administration has set a target for permitting 30 gigawatts of offshore wind by 2030.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC


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