Massachusetts activated a pair of long-term power contracts for Vineyard Wind on Monday, in a sign that the country’s first offshore wind project is nearing completion.
The decision is a major milestone for a project that was rocked by the Trump administration’s move to halt construction in December and a turbine supplier’s recent threat to walk away. In both cases, court rulings in favor of Vineyard Wind kept the $4.5 billion project moving forward. Construction was completed in March, and the project is now testing and bringing online turbines.
Massachusetts leaders said a pair of 20-year power purchase agreements would save Bay State consumers $1.4 billion over their lifetime. Vineyard Wind — which was selling power on New England’s wholesale electricity market before Monday — helped prevent prices from going even higher this winter, when frigid winter temperatures sent electricity prices skyrocketing, state leaders said.
“Vineyard Wind is a key part of our all-of-the-above strategy to lowering energy prices,” Massachusetts Gov. Maura Healey, a Democrat, said in a statement. “Throughout one of the coldest winters in recent history, Vineyard Wind turbines powered our homes and businesses at a low price and now that price goes even lower with the activation of these contracts.”
