EnergyWatch

Shocking price on US' first large-scale offshore wind farm

The contract for Copenhagen Infrastructure Partners and Avangrid's 800 MW offshore wind farm has been sent in for final approval – at approximately half the expected price.

Photo: Vineyard Wind

The US offshore wind industry is taking off amidst austerity. Copenhagen Infrastructure partners and Avangrid along with a series of distribution network operators have entered a 20-year contract with the US Commonwealth of Massachusetts, which has established that the "20-year average cost of the two long-term contracts’ is USD 84.23 per MWh in levelized nominal dollar terms", or the equivalent of USD 64.97/MWh at levelized net present value in 2017, informs the Massachusetts Department of Energy Resources (DOER) on Wednesday.

Specifically, two contracts have been entered between developers and distributors. The first of these relates to the first 400 MW, set to become operational by January 15, 2022, and is priced at USD 74/MWh as well Renewable Energy Certificates (RECs). The remaining 400 MW, expected to become operational precisely one year later, are priced at USD 65/MWh.

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