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A jolt for Cape Wind?
Patrick, a supporter of the proposed Cape Wind project, called such a deal vital to getting the 130-turbine wind farm built.
“Such a Power Purchase Agreement will be a critical requirement for financing the proposed wind farm in Nantucket Sound, and getting it into construction and operation in time to qualify for federal incentives under the American Recovery and Reinvestment Act that would reduce the cost of the project by 30 percent,” his office said in a statement today.
According to Patrick’s office, National Grid will soon file paperwork – a memorandum of understanding between the parties – with state utility regulators that spells out plans for an agreement.
A separate agency, the state’s Department of Energy Resources, will also sign the memorandum and if it’s approved, the talks can begin in earnest. State officials back the project, calling it a major boost for emissions-free power.
But Cape Wind's developers, who have been fighting for years to build the project, are hardly in the clear.
The federal Interior Department gave Cape Wind, which would be located in federal waters, a favorable environmental review early this year.
But a final federal sign-off has been delayed, most recently by questions about whether the waters should be included in the National Register of Historic Places. Two Native American tribes are seeking such a designation, which would create new hurdles for the project.
