Sadly, what should have been a fantastic way to provide electricity to Nantucket, Martha’s Vineyard, and Cape Cod has turned into a major boondoggle. First, you had several senators, including Democrats Ted Kennedy and John Kerry, doing all they could to block the project. Then the costs escalated well beyond what was originally stated. Then we learned that the power output would be much lower than originally estimated. Now
(Fox News) Â An ambitious and controversial push to erect America’s first offshore wind farm has been dealt what some call a potentially “fatal” blow after two utility companies pulled out of commitments to buy energy from the lagging operation.
The $2.6 billion Cape Wind project, a private operation benefiting from millions in federal subsidies, is attempting to pioneer offshore wind energy in pursuit of an eco-friendly, sustainable energy supply. Wind turbines would be installed off the coast of Massachusetts’ Cape Cod in Nantucket Sound.
But Cape Wind is now in limbo after utility companies terminated huge purchase agreements. They pulled out after the project failed to meet two requirements by Dec. 31: to secure financing and begin construction.
The wind farm was relying on NSTAR and National Grid to purchase a combined 77.5 percent of its offshore wind power.
But Greg Sullivan, a former inspector general of Massachusetts who now works at the Pioneer Institute in Boston, said Cape Wind was struggling to find a buyer for the rest of the energy.
“And because they couldn’t do that, they had to let the deadline slip with the utility companies. And they walked,” Sullivan said. “And I would be very doubtful they would come back.”
I’m betting that the people in Martha’s Vineyard, Cape Cod, and Nantucket thought the energy would come directly to them, rather than being sold to the electric company and sent back. That’s they way it was portrayed originally.
Here’s an interesting point
Cape Wind argues the deadline to secure funding should be extended, saying the project was overwhelmed by lawsuits, wasting time needed to meet the requirements.
Pizzi agreed. “If you have to fight something in court for ten years … it’s going to take a lot more time to break even and/or become profitable,” he said.
And where did those suits come from? Democrat Senators and environmentalists. Weird, eh?
