This is a very strange and complicated situation that raises some serious questions about the future of offshore wind in the region and Massachusetts’ ability to meet its 2030 clean energy targets. Here’s what you need to know:
at the time as a major milestone for the state’s ability to produce carbon-free power and save ratepayers money.
As the review was going on, the global economic situation continued to deteriorate and Avangrid started to get nervous about its ability to finance the project. In other words, the company said it would need ratepayers in the state to pay more for power to make the project work. Mayflower quickly responded and said it would honor the current contract. Avangrid, at the last minute before the Monday night deadline,
And Attorney General Maura Healey, who will take office as the new governor of Massachusetts in January, also wants the Commonwealth Wind project to move forward, according to her spokeswoman. She added that the office is “reviewing project financials and will work collaboratively to explore options to improve project economics for all parties.
This is a big issue for Avangrid, he adds, “but to me, that's a one-off kind of problem. It's not an indictment on offshore wind.”
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