Cape Wind, National Grid prepare to negotiate long-term power contract
Time is of the essence for Cape Wind if it wants to take advantage of American Recovery and Reinvestment Act (ARRA) funding, which would reduce the cost of the project by 30 percent. "Part of the stimulus act provided even greater federal incentives for things like wind power," Mr. Rodgers said, but to qualify for ARRA funding, the wind farm would have to begin construction by the end of 2010 and complete construction by the end of 2012.
December 5, 2009
by Michael C. Bailey
in The Enterprise
Cape Wind Associates, the developers of the proposed Cape Cod Wind Farm, trumpeted a major development in its quest to build the nation's first offshore wind farm after Governor Deval L. Patrick announced that National Grid will enter into negotiations for a long-term power supply contract.
"It's a big day for us," Mark Rodgers, director of communications for Cape Wind, said.
The governor announced Wednesday that the Massachusetts Electric Company and the Nantucket Electric Company-which do business together as National Grid and serve, in total, 1.2 million electric customers-have agreed to enter into negotiations for a long-term power supply contract, under which... [continue via Web link]