Prior to that, we reported that SouthCoast Wind, the joint venture between Shell and Ocean Winds formerly known as Mayflower Wind, is also in discussions with the state’s representatives and utilities to cancel and rebid its PPAs for the first, 1.2 GW phase of its SouthCoast offshore wind project – and is expected to also have its contracts with the EDCs terminated and pay the termination penalties.
Commonwealth Wind, and later SouthCoast Wind, submitted to the Massachusetts DPU that under the power purchase agreements, which had been undergoing review since April 2022, the projects were no longer in a good economic position due to the current macroeconomic conditions, with Avangrid saying that under the existing contracts with the EDCs, its project was no longer viable.
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