EnergyWatch

Ørsted gets more from US offshore wind than CIP

Danish utility Ørsted has signed a 400 MW contract for the project Revolution Wind priced 13 percent higher than Vineyard Wind.

Photo: PR Ørsted

Ørsted's Revolution Wind offshore wind project at Rhode Island is now official, the state's governor announces in a press release that a contract of 400 MW to Rhode Island Public Utilities Commission (RIPUC) has been signed.

In doing so, there is now a price on the power purchase agreement. Ørsted has secured a fixed 20-year settlement of USD 98.425 per MWh for the project. The figure is based on an equalized 2017 price of USD 73.68 per MWh, which is higher than the levelized price of USD 64.97 that Copenhagen Infrastructure Partners and Avangrid paid for the 800 MW Vineyard Wind project in Massachusetts.

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