National Grid Signs on As First Cape Wind Customer
05/10/2010
National Grid has signed a power purchase agreement with Cape Wind Associates, the project's developers, less than 10 days after Cape Wind won regulatory approval to construct 130 turbines off the coast of Cape Cod, Massachusetts.
The utility agreed to buy electricity from the farm at 20.7 cents a kilowatt hour, a roughly 8-cent premium over non-renewable electricity. That translates into about $1.59 per month for the typical customer, or about a nickel a day. The contract is for 15 years, and prices will rise at a 3.5 percent annual rate.
National Grid serves approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island. The closest market served by National Grid is the nearby island of Nantucket. Cape Cod, which gave the project its name, would not be served by this agreement.
The 130-turbine farm hopes to go online by the end of 2012, and is expected to generate an average of 182 megawatts of power.
Project Announcements
Daisy Brand Plans Boone, Iowa, Production Operations
04/22/2024
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024