in News Departments > New & Noteworthy
print the content item

The Massachusetts Department of Public Utilities (DPU) has approved the 15-year power purchase agreement (PPA) between utility NSTAR and Cape Wind, the 420 MW offshore wind project planned for Nantucket Sound.

The NSTAR PPA is for 27.5% of Cape Wind's power output. The DPU had already approved a PPA between National Grid and Cape Wind that accounts for 50% of the project's output.

"Taken together, these two PPAs provide Cape Wind with the critical mass to continue securing project financing," says Theodore Roosevelt IV, managing director of Barclays and Cape Wind's financial advisor.

"With this decision, Massachusetts electric consumers have secured an abundant, inexhaustible and clean energy resource that provides price stability and avoids all of the external costs of fossil fuels," remarks Jim Gordon, Cape Wind's president.

Hybrid Energy Innovations

Hybrid Energy Innovations 2015
Latest Top Stories

USDA Invests $1.4 Billion To Boost Rural Grids Around The Country

The U.S. Department of Agriculture (USDA) has announced more loan guarantees for rural power companies and renewable energy firms in 21 states.


SPP Raises Concerns About EPA's Proposed Clean Power Plan

Stakeholders around the U.S. are mulling over the Environmental Protection Agency's blueprint to cut emissions from existing power plants. The Southwest Power Pool has released its assessment of the plan.


Comverge, Constellation To Merge Demand Response Businesses

The two companies have announced a deal to combine their DR operations serving commercial and industrial customers and establish a new, standalone entity.


Grid-Scale Energy Storage Continues Making Inroads

A new report from Navigant Research highlights the biggest markets and most popular technologies for grid-scale energy storage.


Demand Response And Renewables Help SDG&E Tackle Record-Breaking Heat Wave

San Diego Gas & Electric (SDG&E) recorded peak demand records last week and relied heavily on energy conservation, as well as imported wind and solar power, to keep the lights on.

S&C Electric_id176
edf_id180