Specifically, DEEP reported that the Park City Wind is now available at a lower price in comparison to any other publicly announced offshore wind project in North America.
The contracts will be reviewed and approved by the Public Utilities Regulatory Authority (PURA).
The project, which is said to be the largest purchase of renewable energy in Connecticut’s history, will provide an economical boost of USD 890 million, including Bridgeport Harbor and the local supply chain. Vineyard Wind estimates 2,800 direct full-time employment years will be created in Connecticut through the project.
Lars Pedersen, CEO of Vineyard Wind commented that
We look forward to building on the work already underway with a network of project partners, local officials, the maritime community, other developers, and all stakeholders involved to make Connecticut a hub for the offshore wind industry in the United States for decades to come.
Following, Vineyard Wind revealed that it had issued a proposal consisting of a set of bids, including a required 400MW plan and options to develop projects that will generate 800MW, 1,000MW and 1,200MW of offshore wind capacity.
The joint venture of Copenhagen Infrastructure Partners (CIP) and Avangrid Renewables proposes to construct the project in one of its two federally designated lease areas located south of Martha’s Vineyard and Nantucket on the east coast.
In June 2019, Connecticut Governor Ned Lamont announced that he has signed legislation with the support of legislative advocates, authorizing the development of offshore wind in Connecticut.