Environment & Energy Report

Maine Offshore Wind Project Stalled by State Regulators

Jan. 12, 2018, 9:08 PMUpdated: Jan. 12, 2018, 9:23 PM

Cianbro Corp.'s proposal to build the nation’s first floating offshore wind farm has stalled amid concerns from Maine regulators that the company would charge too high a price for its electricity.

The Maine Public Utilities Commission had tentatively agreed three years ago to the pricing terms between Central Maine Power and Maine Aqua Ventus I GP LLC, a wind farm venture of Cianbro Corp., Naval Energies, and the University of Maine. But the commission said in its Jan. 9 decision that the cost of electricity from fossil fuels has plummeted since then and...

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