May 29 (Renewables Now) - The power purchase agreement (PPA) for 400 MW of the Revolution Wind project off the New England coast has been approved by the Rhode Island Public Utilities Commission (PUC).
The 20-year deal between joint venture partners Ørsted A/S (CPH:ORSTED) and Eversource Energy (NYSE:ES) and utility National Grid has been given unanimous support, PUC said on Tuesday. The 700-MW Revolution Wind farm will be located in federal waters off Rhode Island and Massachusetts and will deliver energy at a real levelised price of just over USD 0.07 (EUR 0.063) per kWh.
Once all permits for the project are in place, construction of the wind farm could begin as early as 2020, with potential commissioning seen by 2023. Offshore oceanographic and geophysical surveys are already ongoing. To be installed on a federal lease site between Montauk, New York, and Martha’s Vineyard in Massachusetts, around 15 miles (24 km) south of the Rhode Island coast, the plant will deliver electricity for over 270,000 Rhode Island homes per year.
Revolution Wind was selected in Rhode Island through a competitive procurement process in May 2018. Separately, the complex will deliver 300 MW of power to Connecticut. The project was originally developed by Deepwater Wind and later sold to Ørsted. The Danish company in February 2019 divested 50% of the project to its US partner Eversource.
(USD 1.0 = EUR 0.896)