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BOSTON (State House News Service) — Mayflower Wind told state regulators Monday that it "intends to move forward" with the offshore wind contracts it agreed to this year, but also said that it will share with the state and utility companies an outside analysis of "challenges to financeability, with the goal of finding solutions that provide value to the rate payers."
Commonwealth Wind, the project tapped last year alongside Mayflower Wind to advance Massachusetts' offshore wind portfolio, asked the state late last month to pause its review of the contracts between the two projects and the state's utility companies. Commonwealth Wind said its project was "no longer viable" and could only move ahead if the contracts filed in May are amended. Mayflower had supported the request.
In striking down Commonwealth Wind's request late on Friday, the Department of Public Utilities gave Mayflower Wind and Commonwealth Wind until Wednesday to say whether they will move forward with their latest offshore wind projects under the contract terms they have already agreed to or ask state regulators to no longer consider those essential agreements. Mayflower was the first to respond.
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"Mayflower Wind is committed to meeting its contractual obligations to supply clean offshore wind power to the people of Massachusetts," CEO Francis Slingsby said. "We are proud of our role in meeting critical economic, climate and energy security needs and believe that working together with the utility companies and the Commonwealth we can collaboratively and successfully address and overcome the current extraordinary economic challenges."
In its filing with DPU on Monday, Mayflower said it agrees with Commonwealth Wind that the contracts for their projects "are under the impact of current extraordinary global economic conditions." But it also withdrew its support for Commonwealth Wind's request for a pause. And while Mayflower said it plans to move ahead with the contracts, the project's filing also suggests that some adjustments might still be needed.
"Mayflower will seek to resolve with the Petitioners and the Commonwealth the issues discussed above, beginning by providing Petitioners and the Department with detailed third-party analysis demonstrating challenges to financeability, with the goal of finding solutions that provide value to the rate payers," Mayflower Wind said.
Written By: Colin A. Young/SHNS
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