Cape Wind passed another major milestone today with the approval by the Massachusetts Department of Public Utilities (DPU) of the 15-year Power Purchase Agreement with National Grid to buy Cape Wind’s energy, capacity and renewable energy credits.
Cape Wind President Jim Gordon said, “Massachusetts is now in a position to become a global leader in offshore wind power creating thousands of new jobs and a more secure, hopeful energy future. Today’s approval validates that Cape Wind is a good value delivering clean energy without all of the associated costs of fossil fuels. This long-term contract not only secures an abundant, inexhaustible clean energy resource but protects consumers from rising fossil fuel and environmental compliance costs,” Gordon continued.
The DPU decision culminates a comprehensive six-month review of unprecedented scope, including 13 days of evidentiary hearings with testimony from 15 witnesses, 1,362 exhibits and nearly 3,000 transcript pages. Participation in the case was wide-ranging and extensive, with 14 different active parties.
This DPU approval comes on the heels of significant Cape Wind project announcements that locate the creation of over 1,000 new manufacturing, staging, assembly, construction, and operations jobs in Massachusetts. In addition, Siemens has opened their North American Offshore Wind office in Boston because of Cape Wind.
EXTRACTS OF NOTE FROM THE MA DPU APPROVAL:
“[I]t is abundantly clear that the Cape Wind facility offers significant benefits that are not currently available from any other renewable resources. We find that these benefits outweigh the costs of the project.” P. xvii.
“The evidence in this proceeding makes it clear that the Cape Wind project offers unique benefits relative to the other renewable resources available.” P. xxi.
Cape Wind’s proposal to build America’s first offshore wind farm on Horseshoe Shoal would provide most of the electricity used on Cape Cod and the Islands from clean, renewable energy – reducing this region’s need to import oil, coal and gas. Cape Wind will create new jobs, help stabilize electric costs, contribute to a healthier environment, increase energy independence and establish Massachusetts as a leader in offshore wind power. For more information visit www.capewind.org
SOURCE: Cape Wind
