Avangrid Senior Vice President for Offshore Projects, Sy Oytan, said that the company will ask Connecticut for a “modest adjustment” to the state’s contract to buy power from the company’s planned 804 megawatt Park City Wind project south of Martha’s Vineyard, to “reflect the current economic realities.” Since Connecticut agreed to buy power from the Park City project in 2019 at a price of $79.83 per MWh, Avangrid has faced the same challenges as other businesses around the world – inflation, higher interest rates, supply chain shortages and escalating commodity prices, Oytan said. Park City is now scheduled to come online in 2027 instead of the original state date of 2025. Oytan told investors that the delay will allow Avangrid to use newly-developed wind turbines with a capacity of between 17 to 20 MW each.
Park City Wind Asks Connecticut to Adjust Energy Bid ‘to Reflect Current Economic Realities’