First large US offshore wind project sets record-low price starting at $74 per MWh

“The state expects electricity customers will see $1.4 billion in direct and indirect benefits over the term of the contract.

The Vineyard Wind Project includes a $15 million initiative to accelerate the U.S. offshore wind market, comprising a $10 million offshore wind industry accelerator fund, $2 million for workforce development and $3 million for innovations in protecting marine mammals.

The developers will also establish a Resiliency and Affordability Fund and contribute $1 million each year for 15 years to support the construction of battery storage and solar projects in the region and provide low-income ratepayer benefits to the communities hosting the Vineyard Wind Project.”

Click here to read more from Green Tech Media.

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