Second Wind Developer Moves to Terminate its Contracts
Another offshore wind developer took a major step Tuesday toward scrapping its initial plans for an installation in waters off the coast of Martha's Vineyard.
SouthCoast Wind, whose pair of successful bids represented a combined 1,200 megawatts of anticipated offshore wind power, agreed to pay utility companies $60 million to terminate contracts the parties previously struck for the clean energy.
The penalty would be divided into $32.4 million for Eversource, $27.3 million for National Grid, and $591,000 for Unitil, according to contract amendments filed...
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