National Grid Plc and Orsted US Offshore Wind have inked a contract to deliver offshore wind power to Rhode Island for 7 cents per kilowatt-hour once permits are secured, Gov. Gina Raimondo (D) announced Feb. 7.
Orsted’s 400-megawatt Revolution Wind project would be built in federal waters about 15 miles off the state’s coast by 2023 and provide about a quarter of Rhode Island’s electricity.
Orsted and National Grid have settled on a price of delivering the power to ratepayers for a little more than 7 cents per kilowatt-hour (kWh) for 20 years, Raimondo said.
The proposed price ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.