Marita Noon — Heartland Institute — January 12, 2015
Touted as “America’s first offshore wind project,” Cape Wind became one of America’s most high-profile and most controversial wind-energy projects. Fourteen years in the making, estimated at $2.6 billion for 130 turbines, covering 25 square miles in Nantucket Sound off the coast of Massachusetts, the Cape Wind project has yet to install one turbine—let alone produce any electricity. Now, it may be “dead in the water.”
On January 6, the two power companies, National Grid and Northeast Utilities, that had agreed to purchase most of the electricity Cape Wind was to generate, terminated their contracts with the developers due to missed milestones. Under the terms of the contracts, Cape Wind had to secure financing and give notices to proceed to its suppliers to start work by December 31, 2014. Neither happened and both companies filed to cancel power purchase agreements. “The project is in cardiac arrest,” according to Amy Grace, a wind-industry analyst with Bloomberg New Energy Finance.
Cape Wind has faced stiff opposition since it was first proposed in 2001. Senator Edward Kennedy’s efforts, and those of his wealthy friends, to fight Cape Wind have been the most publicized, but Native Americans, fishermen, and local communities have also battled the industrialization of Nantucket Sound. The town of Barnstable has been particularly active in the fight. The Cape Cod Times reports that Charles McLaughlin, Barnstable’s assistant town attorney, said: “The town’s concerns include the possibility that a collision between a boat and the large electric service platform the project requires could spill thousands of gallons of oil into the sound.” (Continue reading here….)