The $2.5-billion Cape Wind project off Nantucket Sound in Massachusetts may be in jeopardy after two utilities terminated their power purchase agreements with the developers.
NStar and National Grid had agreed to buy 27.5% and 50% of the wind farm’s output in an agreement that set a December 31, 2014 deadline for Cape Wind to tie down financing and start construction.
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“In letters dated December 31 to both utilities and state regulators, Cape Wind president James Gordon asked that the power companies hold off on voiding the contracts, citing ‘extended, unprecedented, and relentless litigation by the Alliance to Protect Nantucket Sound,’ a leading foe of the project,” the Globe reports. Gordon “argued that the litigation triggered a clause in the contract that allows for more latitude in Cape Wind’s ability to meet the deadlines.” (h/t to Politico)
