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Avangrid Appeals Order to Keep Building Its Expensive Wind Farm

Jan. 24, 2023, 5:56 PM

New England utility Avangrid Inc. has appealed an order from regulators for the company to move forward with building a large offshore wind farm under its current electricity contracts.

Because of the combined impacts of inflation, interest rate increases and supply chain kinks, the current contracts “do not allow the company to secure the significant financing needed to construct this critical project,” an Avangrid representative said in an email Tuesday.

Massachusetts regulators last month ordered Avangrid to move forward with the current contracts for its Commonwealth Wind project. The company filed the appeal last week.

Offshore wind is seen as ...