the wind died

The Environment

Spanish renewables developer Avangrid has announced that it is seeking to walk away from the current contracts for the Commonwealth Wind project planned for Massachusetts, saying that after months of negotiations the project is not economically viable in its current form. After two months of back and forth with the state and regulators, the company made a filing on December 16 proposing that the project be rebid in a competitive solicitation scheduled for April 2023.

“Despite unprecedented challenges in the global economy in the form of supply chain disruptions, historic levels of inflation, and rising interest rates, Avangrid has engaged in good-faith and productive discussions with Massachusetts state officials regarding these challenges and the need to restore the project to economic viability,” the company wrote in its public statement. “To advance this project as expeditiously as possible, Avangrid filed a motion with the DPU (Department of Public Utilities) to dismiss its review of the Commonwealth Wind contracts, which will allow all parties an opportunity to pursue an expedient path forward.” Read on.

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