| May 7, 2010 |  |
Long-term Power Purchase Agreement between National Grid and Cape Wind Puts Northeast a Step Closer to Cleaner Energy Production
Statement by John Rogers, Union of Concerned Scientists
CAMBRIDGE (May 7, 2010) – Massachusetts utility National Grid and owners of Cape Wind, the nation's first proposed offshore wind project have agreed on a long-term contract for the utility to buy Cape Wind's electricity. The agreement would help Cape Wind obtain financing to construct 130 turbines off the Massachusetts coast in Nantucket Sound.
Below is a statement by John Rogers, a senior energy analyst in the Union of Concerned Scientists' Climate and Energy Program:
"The landmark Cape Wind project cleared regulatory hurdles last week by getting the green light from the federal government to move forward. Today’s announcement by National Grid will help Cape Wind surmount the financial hurdles of building the nation’s first offshore wind project.
"The beauty of long-term contracts like the one National Grid will enter into with Cape Wind is that it enables clean energy project developers to obtain financing to address their upfront costs. Long-term contracts also help stabilize electricity prices for utility customers, along with providing the broad economic and environmental benefits that renewable energy can bring.
"The consequences of our current energy system have never been so visible in recent weeks, with the oil spill in the Gulf of Mexico and the coal mine explosion in West Virginia. Although less dramatically visible than those devastating events, other consequences of our fossil fuel use are also serious, including climate change. To get us to a cleaner, safer energy system, more utilities should follow National Grid’s lead and establish long-term contracts with innovative renewable energy projects like Cape Wind.”
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The Union of Concerned Scientists puts rigorous, independent science to work to solve our planet's most pressing problems. Joining with citizens across the country, we combine technical analysis and effective advocacy to create innovative, practical solutions for a healthy, safe, and sustainable future.
