Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTMay 27 (Renewables Now) - Mayflower Wind Energy LLC, the 50/50 JV between Royal Dutch Shell Plc (AMS:RDSA) and Ocean Winds, has filed for regulatory approval of its power purchase agreements (PPAs) to supply three Massachusetts utilities with electricity from 1.2 GW of offshore wind turbines.
The 20-year contracts have been submitted to the Massachusetts Department of Public Utilities (DPU), Mayflower Wind said on Thursday.
Mayflower Wind was awarded 804 MW of capacity in Massachusetts’ offshore wind solicitation in 2019 and then made a successful bid for 400 MW in a December 2021 tender.
The company has pledged to make nearly USD 120 million (EUR 111.8m) worth of economic development investments as part of the projects, to be developed within an offshore wind lease area off Massachusetts. The spending programme will support ports and infrastructure improvements, training and education initiatives, applied research and marine science and others.
“Mayflower Wind has binding agreements with more than 10 organisations in the region,” said Mayflower Wind’s CEO Michael Brown.
The JV partners plan to deliver the entire capacity through a grid connection at Brayton Point, the location of a former coal power plant, in Somerset. Their initial plan was to deliver 804 MW of the capacity through the Falmouth grid connection, but it was changed following the acquisition of the Brayton Point rights in 2021. Approval is being sought for the shift.
(USD 1.0 = EUR 0.932)
Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTCost of new renewables climb, but gap to fossil power widens
Jul 01, 2022 16:07 CESTBiden pledges to take action as court limits EPA's authority
Jul 01, 2022 15:38 CESTTotalEnergies JV nominates areas for floating wind off Oregon
Jun 30, 2022 9:55 CESTUS federal govt kick-starts offshore wind partnership with 11 states
Jun 24, 2022 10:27 CESTBOEM releases draft EIS for 1.1-GW New Jersey offshore wind project
Jun 20, 2022 11:12 CEST