On Tuesday, Rhode Island regulators approved a 20-year Power Purchase Agreement (PPA) with DWW REV I, LLC — a joint venture between Ørsted US Offshore Wind and Eversource — for the power generated from the 400 megawatt (MW) Revolution Wind offshore wind project.
The Rhode Island Public Utilities Commission unanimously approved the long-term PPA contract between Danish offshore wind giant Ørsted and US-based energy company Eversource with National Grid, the natural gas and electricity provider for New York, Rhode Island, and Massachusetts. The approved PPA is for 400 MW generated by from 704 MW Revolution Wind offshore wind project — which will deliver 400 MW to Rhode Island and 304 MW to Connecticut.
Revolution Wind is expected to begin local construction work as early as 2020, with offshore installation beginning in 2022 and completion and operation expected for some time in 2023. Upon completion, Revolution Wind would be Rhode Island’s second offshore wind farm — after the 30 MW Block Island Wind Farm was completed and began generating electricity in December of 2016 — and would generate enough power to supply the equivalent of more than 270,000 homes.
“We’re grateful for the RI PUC’s approval of this important project. We’re ready to get to work to deliver dramatically more offshore wind energy, jobs and energy savings to Rhode Island,” said Thomas Brostrøm, CEO of Ørsted US Offshore Wind and President .... “We’re proud to be Rhode Island’s partner in a project that builds upon the success of the Block Island Wind Farm to now truly transform the state’s energy future.”
“Rhode Island is making tremendous strides in achieving the state’s ambitious clean energy goals,” said Lee Olivier, Eversource Executive Vice President for Enterprise Energy Strategy and Business Development. “With Revolution Wind set to deliver a quarter of the state’s total electric load, offshore wind is now poised to become a major component of the state’s energy mix.”
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1600 MW for Massachusetts and 30 MW plus 400 MW for Rhode Island.
Gee, all that electricity could have been provided by a couple of 60% efficient gas turbine plants, which would be in operation in about 2 years, at about 1/4 of the capital cost, and produce electricity at about 5 c/kWh
The foreign wind conglomerates just love these 20 year contracts.
They are priced to guarantee a fat return on their investments
With enough subsidies and grants anything can be made to be profitable.
Let them waste their money down there! Wait until the yachting set from Newport get tired of seeing wind turbines go up--the shit will hit the fan, for sure!
Of course, the article didn't reveal the cost of the PPA, but Deepwater Wind at Block Island started at 24¢ per kwh with annual indexing. One must assume these PPAs will be similar if not more.
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