US offshore wind developers continue to seek annulment as viability sags

Following Avangrid’s requested contract annulment, Shell and Ocean Winds say they agree that developing offshore wind projects pursuant to contract specifications is no longer economically viable. 
Photo: Vattenfall
Photo: Vattenfall

Offshore wind development in the waters of Massachusetts is unsound business – or, at least under the contract conditions applicable when developers won auction bids both last year and in 2019, when Commonwealth Wind and Mayflower Wind secured development rights for a rough total of 2.4GW, firstly for a price of USD 77.76 per MWh and most recently for USD 75 per MWh.

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