Cost of Power from SouthCoast Wind Project to Drop Even Lower
The cost of power of the 804 megawatts of offshore wind energy to be generated by the SouthCoast Wind Project is on track to drop even lower because of recent changes in federal tax law. This price reduction means that the residential and business customers of three Massachusetts electric utilities (Eversource, National Grid and Unitil) can expect to collectively save over $25 million annually. This will add up to half a billion dollars in lower electric bills over the life of SouthCoast Wind’s 20-year contracts. This is a significant increase over the original $2 billion in customer savings that the Massachusetts Department of Energy Resources estimated would come as a result of the SouthCoast Wind Project.
The additional savings come from the newly increased and extended federal Offshore Wind Energy Investment Tax Credit. These credits are eligible to offshore wind project developers. However, in anticipation of potential regulatory changes at the time of its original bid, SouthCoast Wind committed to convert the value of those credits, should they arise, into a price reduction for electricity customers in Massachusetts – a promise that SouthCoast is happy to honor.
January 8, 2021
Floating Turbine Design Awarded Technology Development Funding
Atkins, a design, engineering, and project management consultancy based in Houston, Texas will develop a full-scale design of a floating offshore wind platform capable of supporting a 10+ megawatt turbine, using a scale model testing and simulation methodology previously used for oil and gas floating production facilities. The design, which received funding from the U.S. Department of Energy in December 2020, is planned for installation and grid connection in SouthCoast Wind’s lease area.
This project advances SouthCoast Wind’s core value to support technological innovation and overall industry development by demonstrating a cost-effective methodology that will lead to future commercial scale floating wind farms.
SouthCoast Wind to Host Experimental Floating Turbine Platform
WCAI, December 29, 2020
SouthCoast Wind Project Highlighted at Recent Renewable Energy Industry Conferences
Dr. Ruth Perry, SouthCoast Wind’s marine science and regulatory policy specialist, joined other New England offshore lease area holders in a virtual panel discussion about 2020 federal decisions and the outlook for permitting in 2021 and beyond at the Environmental Business Council of New England’s 8th Annual New England Offshore Wind Conference held December 2, 2020.
Dr. Perry also spoke on a panel addressing ocean wind, wave, and tidal energy project updates and innovations at the University of Massachusetts’s 3rd annual Marine Renewable Energy Conference on November 12, 2020.
EBC – 8th Annual New England Offshore Wind Conference
UMass Dartmouth – 2020 Marine Renewables Energy Conference Video
News From Our Sponsors
Final Turbine Installed at Borssele III & IV Offshore Wind Farm
The last of the 77 9.5 MW turbines was installed at the Borssele III & IV offshore wind farm in on November 26, 2020. The project has been delivering power since August 2020.
Once fully commissioned, the wind farm is expected to produce enough power for approximately 825,000 Dutch households, or 2.3% percent of total Dutch electricity demand.
The project is being developed by the Blauwind consortium, which is comprised of Partners Group (45%), Shell (20%), DGE (15%), EnecoGroup (10%), and Van Oord (10%).
Installation of the final turbine for Borssele III & IV
First Turbine Installed at Moray East Offshore Wind Farm
The first of 100 9.5 MW turbines was installed at the Moray East offshore wind farm on January 15th.
The wind farm, 14 miles off the Aberdeenshire coast in Scotland, will be capable of providing low-cost power to the equivalent of one million Scottish homes, or 40% of the country.
The project is being developed by Moray Offshore Windfarm East Ltd (MOWEL), which is a joint venture company owned by Ocean Winds (56.6%), Diamond Green Limited (33.4%), and CTG (10%).
Moray East Announces Installation of First Turbine
Moray East Offshore Windfarm
Real Time Metocean Data Available
SouthCoast Wind has partnered with the Northeastern Regional Association of Coastal Ocean Observing Systems (NERACOOS) to share real-time weather and ocean data collected by the buoy for mariners and the scientific community to use. NERACOOS mission is to produce, integrate, and communicate high quality information that helps ensure safety, economic and environmental resilience, and sustainable use of the coastal ocean. SouthCoast Wind’s floating buoy data will help to support these efforts and help to inform other research efforts in the Atlantic region. Visit NERACOOS to view the data.