Cape Wind agrees to reduce cost of offshore wind
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03 Aug 2010
Developers of Cape Wind have agreed to cut the price of electricity from the proposed offshore wind farm in Massachusetts.
Massachusetts Attorney General Martha Coakley said Friday that her office had negotiated a 10 percent reduction in the price Cape Wind will charge to utility National Grid for electricity. Over the course of the proposed 15-year contract, the reduction will save $456 million, according to Coakley's office.
The deal highlights how cost remains a large barrier to building offshore wind farms in the U.S.
