Cape Wind Project is a Good Deal for Massachusetts
Friday, April 06, 2012
by Joseph M. Kwasnik, Senior Advisor, Electric Power Program ó Ceres
The Cape Wind project has received two positive jolts in recent weeks.
First came the Massachusetts Supreme Judicial Court decision upholding a long-term power agreement for National Grid to purchase half of Cape Windís 454 megawatts of wind power for at least 15 years.
Yesterday the second came Ė Massachusetts regulators gave final approval to a merger between NStar and Northeast Utilities, which includes a commitment by NStar to buy slightly more than a quarter of Cape Windís projectís electricity for 15 years.
With these key contracts in place, Cape Wind can secure the financing it needs to begin construction next year. After a tortuous decade-long journey, the projectís football-field sized wind turbines will start producing electricity as early as 2015. Thatís an enormous breakthrough for homegrown renewable energy powering the Massachusetts and New England economies.
Click here to read this Ceres blog by Joseph M. Kwasnik