Avangrid terminated PPA for 804 MW Offshore wind farm in USA

Avangrid and the Connecticut Electric Distribution Companies have agreed to terminate power purchase agreements (PPAs) for the 804 MW Park City Wind offshore project in Connecticut, USA.

Avangrid has stated that the conditions outlined in the Power Purchase Agreements (PPAs) do not ensure economic viability. It highlighted the challenges faced by the offshore wind industry, including unprecedented economic hurdles such as record inflation, disruptions in the supply chain, and significantly increasing interest rates. Avangrid, as the first offshore wind developer in the United States to address these challenges, believes the best course of action for the Park City Wind project is to finalize the PPAs and propose a new offer for the project. The company intends to participate in upcoming auctions to re-submit the 804 MW Wind project.

The Wind farm, developed by Avangrid Renewables, is an offshore wind initiative underway off the coasts of Massachusetts and Connecticut. Anticipated for completion in 2025, the project will feature 62 wind turbines, each boasting a capacity of 13 MW. These turbines will be situated in a federal lease area approximately 25 miles south of Martha's Vineyard and Nantucket.