Wind is one big answer for climate urgencies. Let's find ways to support this alternative energy source.
As anticipated, SouthCoast Wind has announced it will seek to terminate the utility contracts it needs to finance the construction of a giant offshore wind farm south of Martha’s Vineyard, citing significant increases in the cost of the project.
The move follows Avangrid’s decision last fall to do the same thing with contracts for a similar project, dubbed Commonwealth Wind, which was also proposed for waters south of the Vineyard. Industry insiders had expected SouthCoast Wind to follow, because its contracts are based on the same economics as Commonwealth Wind’s. But until now, despite conceding similar cost concerns, SouthCoast Wind’s leaders avoided definitively answering the question whether they would need to terminate their contracts too.
Read entire story at this link:
Comments