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Massachusetts regulators denied Avangrid’s request to back out of PPAs for the 1,200-MW Commonwealth Wind project it committed to build off the state’s coast.
Wind power development off the Northeast U.S. coast continued to advance in 2022, with New York especially seeing a "banner year," according to an OSW advocate.
Massachusetts regulators have rejected developers’ requests to pause the review of their power purchase agreements for two planned offshore wind projects.
Avangrid declared the Commonwealth Wind project is no longer financially viable, potentially delaying the effort to site wind power off Massachusetts' coast.
Avangrid’s CEO said during an earnings call that the lease areas that the company now directly controls are “undervalued based on current market prices.”