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Massachusetts approves Cape Wind PPA

Renewable Energy World |

In Brief...

Throughout 2010, I've been watching the Cape Wind project work its way through the development and regulatory processes. This week the DPU issued a decision approving a 15-year power purchase agreement between Cape Wind and National Grid. ) Under the deal, National Grid will buy half of Cape Wind's output for 18.7 cents per kilowatt-hour, with a 3.5% annual escalator in each of the 15 contract years. One of the many benefits that Cape Wind provides is that it will assist National Grid and Massachusetts in meeting the renewable energy requirements of the Green Communities Act, as well as the greenhouse gas emissions reduction requirements of the Global Warming Solutions Act. ) The next step for Cape Wind is to look for a purchaser for the other half of its power.

Read the entire article at Renewable Energy World...

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