Tag Archives: power purchase agreement

Offshore Wind Technology Failure – Offshore wind is not all its cracked up to be!

Massachusetts’ ambitious goal to deploy offshore wind is supported by a 2016 Massachusetts state law that requires state utilities to purchase this power. This developer-friendly law exposes tax and ratepayers to triple current energy cost after public subsidies equal to 65 percent of project cost. The public now assumes the lion’s share of economic risks, while wind developers’ “skin in the game,” is as little as 10 percent. The United States has adopted the United Kindom’s offshore wind turbine design code. Massachusetts lawmakers wrongly assume that offshore wind is a reliable energy source. Per a landmark judgment issued by the U.K. Supreme Court in July 2017, there is fundamental failure in the offshore wind industry standard design code (J101). Barbara Durkin

Landmark Case Changes Offshore Wind Legal Landscape – >click here to read< 14:45

Department of Energy Pulls the Funding Plug from Fishermen’s Energy Wind Project

The U.S. Department of Energy says Fishermen’s Energy failed to meet a Dec. 31 deadline to have a power purchase agreement in place. The department is revoking most of the $47 million in funding it pledged to the project in 2014; about $10.6 million has been spent already on preliminary work. In a written statement to The Associated Press on Tuesday, the energy department said the Atlantic City project missed a key deadline. “Under the Energy Department’s award, Fishermen’s Energy must have secured a power offtake agreement by December 31 to be eligible for another round of funding,” the department said. “The criteria were not met by that date, so we have initiated the close-out process for the project.” Company CEO Chris Wissemann said Fishermen’s Energy hopes a last-ditch effort to secure a power deal will succeed. Read the story here 17:59