in News Departments > Projects & Contracts
print the content item

Gov. Deval Patrick, D-Mass., has announced that National Grid and Cape Wind have agreed to enter into negotiations for a long-term power purchase agreement (PPA), under which the utility would purchase the electricity generated by the Cape Wind project.

According to Patrick's office, this PPA is a critical requirement for financing the proposed offshore wind farm in Nantucket Sound, as well as to getting it into construction and operation in time to qualify for federal incentives under the American Recovery and Reinvestment Act, which would reduce the cost of the project by 30%.

The PPA still must go through state regulatory review. National Grid is expected to file shortly with the state Department of Public Utilities (DPU) a memorandum of understanding (MOU) with Cape Wind laying out the rationale for such a contract, as well as the methods and timelines by which the parties will pursue an agreement.

If the DPU approves the process, National Grid and Cape Wind will engage in negotiations to enter into a mutually agreeable long-term contract and submit any final pact to the DPU for review and approval. The state Department of Energy Resources is also a signatory to the MOU, providing a consultative role required by the Green Communities Act of 2008.

SOURCE: Office of Gov. Deval Patrick


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015