By means of Paul Homewood
Now Shell pull out:
Shell’s finance leader mentioned on Thursday the company had exited an influence acquire settlement (PPA) for the deliberate SouthCoast windfarm off the coast of Massachusetts, agreeing to pay a penalty reasonably than face emerging prices for development the venture.
The venture, previously referred to as Mayflower, was once deliberate to have capability of two.4 GW.
A PPA (Energy Acquire Settlement) was once signed via Shell remaining 12 months to supply electrical energy to Massachusetts utilities at $76.73/MWh, about £60/MWh. Simply months later, they unsuccessfully tried to renegotiate the contract.
I believe that Shell makes another try to get a greater worth, which the Massachusetts public will finally end up paying for.