Library from Delaware

Bluewater Wind ends contract

The 2008 power purchase agreement, was considered an essential ingredient in building a wind farm off the coast of Delaware. Tuesday was the final day under the contract for Bluewater to exercise an escape clause without forfeiting a $4 million security deposit.
3 Jan 2012

Time ticking on offshore wind farm; Deadline nears for NRG to find Bluewater buyer

NRG reported two weeks ago its intention to terminate the contract if a buyer does not come forward because of problems gaining financing for the project, with long-term government subsidies uncertain. NRG originally reported the deadline was Dec. 23, but last week NRG spokesman David Gaier said Delmarva clarified that the deadline for giving notice of termination was Dec. 27.
26 Dec 2011

New owner sought for Bluewater wind farm; Must commit to offshore project by Dec. 27

When the recession hit, Firestone said, people began to conserve more energy and therefore the value of the renewable energy credits fell. Bluewater could no longer bank on selling renewable energy credits to other power companies for a set price. The price fell and so did the number of credits a power company was required to carry, he said.
20 Dec 2011

Atlantic Wind Connection in trouble?

Like most big, bold ideas, the Atlantic Wind Connection is risky, and this week's Bluewater announcement can hardly be a good portent. AWC - which is a transmission line, not a power-generation project - won't go forward without an offshore wind boom along the Atlantic Coast.
16 Dec 2011

Bluewater: What went wrong?

When the public rallied behind the Bluewater Wind offshore project four years ago, the drama played out against a backdrop of economic prosperity, high -- and rising -- electricity prices, and no reason to doubt a federal commitment to the price subsidies underpinning the pioneering idea. But today, with almost all of that changed, Bluewater's owner, NRG Energy, faced the new normal.
14 Dec 2011

Utilities group signs deal for wind power

A group representing Delaware's municipal electric utilities has signed a long-term deal for land-based wind energy. Patrick McCullar, the group's president and CEO, said the deal will buffer the utilities against what he called the increasingly unlikely chances the Bluewater Wind project will be built anytime soon.
19 Sep 2011

Delmarva gives wind developer extension

By June 23 the developer needed to pay Delmarva $4 million or walk away from the contract. Delmarva granted Bluewater a three-month extension this summer, giving the firm until next week to pay $2.75 million and January 2013 to pay $1.25 million. Under the extension agreed to this week, Bluewater will have until Dec. 31 to pay the entire $4 million.
16 Sep 2011
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