17 Sep '13, 4am

Maine's Offshore Wind Development Becomes A Bidding War

Maine's Offshore Wind Development Becomes A Bidding War

The Maine Public Utilities Commission earlier this year gave a preliminary nod to Statoil for its proposed $120 million 12-MW Hywind project, which already had secured a PPA with Central Maine Power Company (20 years at $0.27/kWh). But state officials, concerned about that rate being too high and seeking to maximize local economic benefits from offshore wind development, reopened the bidding process this summer to allow a University of Maine-developed project to submit a competing proposal for its now-being-demonstrated VolturnUS technology . Once the state adjusted the rules to allow the UMaine bid, Statoil backed off its Hywind plans and could move the project back overseas. The UMaine-backed proposal was filed with the PUC on August 30 by newly formed Maine Aqua Ventus I, GP LLC, a partnership of Cianbro Emera and Maine Prime Technologies (a UMaine spinoff). The Volturn...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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