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New blow to Shell-Ocean Winds US plan as state says 'we don't review hypothetical projects' - Recharge

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New blow to Shell-Ocean Winds US plan as state says 'we don't review hypothetical projects' | Recharge

Shell-Ocean Winds' struggling SouthCoast faced another disappointment after Rhode Island decided to pause the review of a critical cable link for the Massachusetts-bound offshore wind project.

SouthCoast is one of two Massachusetts projects along with Iberdrola-controlled Avangrid’s 1.2GW Commonwealth Wind to have deals cancelled by their owners due to surging inflation and interest rates that they say have made the developments unfinanceable under existing terms.

Rhode Island Energy Facilities Siting Board (EFSB) this week confirmed that as the developer is trying to withdraw the project's power purchase agreements (PPAs), EFSB cannot consider state permits for the cable route.

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