Rhode Island Rejects Ørsted and Eversource's Offshore Wind Project, Citing Cost Concerns

Rhode Island Energy, the largest utility in Rhode Island, has decided not to proceed with a long-term power purchase agreement (PPA) for the Revolution Wind 2 offshore wind farm with Ørsted and Eversource. The utility cited higher costs, uncertainty of federal tax credits, and failure to meet the requirements of the Affordable Clean Energy Security (ACES) Act as reasons for the decision. Rhode Island Energy will explore other offshore wind opportunities to bring more affordable pricing to the state.