Shell, EDP Set Record-Low Price for U.S. Offshore Wind Power

Feb. 11, 2020, 4:51 PM

Royal Dutch Shell Plc and EDP Renovaveis SA agreed to sell power from a wind farm they’re building in the Atlantic Ocean for a record-low price.

The 804-megawatt Mayflower wind farm, located south of Martha’s Vineyard, will supply electricity to utilities in Massachusetts for $58 a megawatt-hour over the life of the contract. That’s less than a previous deal for $65 agreed to with the similarly located 800-megawatt Vineyard Wind project, state energy officials said on a conference call Tuesday.

“The Commonwealth has now solicited two cost-effective projects at prices far below what industry experts had projected a few years ...

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