Cape Wind Pulls Out of New Bedford Lease
- Business & Finance
Developers of the Cape Wind project have notified Massachusetts Clean Energy Center (MassCEC) that they are letting go of the lease for a marine terminal in New Bedford.
The decision came after Cape Wind was asked by MassCEC to give the center an opportunity to make the best out of the terminal space this year, since the project is facing delays due to terminated power purchase agreements, according to Boston Herald. MassCEC plans to find another user of the terminal, who will create jobs and profit.
The cooperation between the center and Cape Wind will continue, to allow using the terminal when the project gets back on track.
Offshore WIND Staff; Image: MassCEC