"A couple of weeks ago, Cape Wind's two largest investors, Northeast Utilities and National Grid, announced that they would withdraw from their contracts, pulling over 75% of support for the project."
UTILITIES SET BACK THE COMMONWEALTH'S QUEST FOR A CLEAN ENERGY ECONOMY
BY MA-SIERRA o JANUARY 23, 2015
The attempt by the two major utilities, Northeast Utilities and National Grid, to terminate their contracts to purchase Cape Wind's clean power from offshore wind is a serious setback in the Commonwealth's quest for a clean energy future. A successful offshore wind project will put Massachusetts squarely in the forefront of clean energy and will loosen the volatile-priced natural gas choke hold that controls 65% of the energy for the Commonwealth's economy. We continue to export our dollars to import fossil fuels via pipeline, LNG tanker, barge, tank cars and trucks rather than investing in homegrown energy and jobs. The offshore wind project would be a shot in the arm for the Massachusetts economy, the State's southeast coast and New Bedford area and for clean and renewable energy investments. This setback must be promptly reversed so that offshore wind development in Massachusetts goes forward unencumbered.
Read on Sierra Club's site
Origin: energy-news-blog.blogspot.com
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