"THE DEPARTMENT OF PUBLIC UTILITIES on Friday approved 20-year power purchase agreements between the state’s three major utilities and the offshore wind developers behind Commonwealth Wind and Mayflower Wind, rejecting claims and concerns raised by the developers that the contracts are no longer adequate to finance their projects.Avangrid, the developer behind Commonwealth Wind, had asked the DPU to dismiss its power purchase agreements because rising inflation and interest rates as well as supply chain disruptions and the war in Ukraine had driven up costs to a point where the existing pricing was no longer sufficient to finance and build the project."
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Listen to the Making Sense of Climate episode discussion the wind contracts
|CommonWealth Magazine: "DPU approves wind farm contracts despite financing concerns"|
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