Library filed under Offshore Wind

Cape Wind: dead or alive?

Following the announcement Tuesday by two electric utilities that contracts to buy power from the wind farm planned for Nantucket Sound had been terminated, opponents were declaring Cape Wind finally defunct, after 13 years of contentious public debate, permitting and court battles. But not everyone agrees.
8 Jan 2015

Cape Wind’s future called into question

Gordon wrote that the lawsuits had impeded Cape Wind from meeting the required milestones and argued that the litigation triggered a so-called force majeure clause in the contract that extended the deadlines for Cape Wind. ...“The challenges alluded to by Cape Wind were ongoing and well known to the parties at the time the agreement was entered into and were not the type of events that would excuse Cape Wind from performing its obligations,” said Caroline Pretyman, a spokeswoman for Northeast Utilities.
8 Jan 2015

Utilities terminate Cape Wind power contracts; Could be crippling blow to wind farm, New Bedford

NStar officials, who released copies of the letter they sent Cape Wind, said the project had failed to complete financing for the wind farm and begin construction by the end of 2014, as required by the power purchase contract. NStar said Cape Wind could have extended the deadlines for two additional six-month periods by paying a deposit of nearly $1.3 million, but chose not to do that. 
7 Jan 2015

Two utilities opt out of Cape Wind

Ian Bowles, who as Patrick’s first energy and environment chief helped shepherd the offshore project, said Tuesday’s news may have spelled the end for Cape Wind. ...The jeopardy in which Cape Wind finds itself reflects a changed energy market, in which developers bear more risk than the eventual ratepayers, Bowles said.
7 Jan 2015

Is Cape Wind running out of time?

While Rodgers said Cape Wind was working hard to make the wind farm a reality, court documents filed earlier by the company’s president indicate that may not be possible. In a court affidavit filed in July, Cape Wind President Jim Gordon said financing on the project needed to close by the end of September 2014 to have a chance at beginning construction on the project before a critical Dec. 31 deadline next year. 
18 Dec 2014

Bottom lines: Economic benefits for wind energy plan fall short

In the Fishermen’s Energy case, homeowners and businesses would be the ones subsidizing the wind farm, through state agreements to buy the power at rates substantially above the cost of electricity in the open market. Wind turbines are a mature technology deployed all over the world, including much at sea, so the “demonstration” aspect of the project is not to show they work but to show sufficient subsidies and political gain can be lined up to do a lot more windmill development off the East Coast.
7 Dec 2014

Ulster’s first offshore wind farm scrapped

Northern Ireland’s first offshore wind farm has become the latest renewable project to be scrapped following a change in the UK subsidy scheme. Under the original plans, the £1bn project off the east coast of the province would have supplied almost 20 per cent of its electricity requirements.
2 Dec 2014

Could initial offshore wind projects crash New England's REC market?

The circular logic of REC market fundamentals would have low REC pricing jeopardizing future development. As renewable energy project profit margins get squeezed, fewer projects will be built and forward REC prices would rebound as forward supply tightens.The worry is that offshore wind projects could break this self-correcting market logic in the New England Power Pool (NEPOOL).
14 Oct 2014
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