All Financial Wisdom
Is this the End of Cape Wind?
Today, CBS Boston reported that National Grid and NStar both cancelled their contracts with Cape Wind due to missing deadlines.
National Grid and NStar are the two main power suppliers in the New England area and especially where Cape Wind will be built. This is a bad bad sign for project supporters. If no one will agree to buy the future power from this project, then they may just be dead in the water.
Looking at their timeline, they have had plenty of their share of legal battles over permits with this whole process starting November 2001. Over 13 years of augments and filling out government forms must be tiring.
With the major purchasers out, I would expect this to be a delay, but I find this project to have come so far and spent too much money to be a complete failure. Looking at their investors, I would hope Cape Wind still puts up several wind turbines and start producing cheap renewable energy for New England.