NYPA Pulls Plug On Great Lakes Offshore Wind Project

Reuters

The state-owned New York Power Authority (NYPA) said on Tuesday it had ended the proposed Great Lakes Offshore Wind Project due to high costs and the weak economy.


Development of a 150-megawatt Great Lakes project would have resulted in an estimated annual subsidy of between $60 million and $100 million, NYPA said in a statement.


"It would not be fiscally prudent for the Power Authority to commit to the initiative," the statement said.


NYPA said it was still participating in other efforts by regional groups along the Great Lakes and in the Long Island-New York City Offshore Wind Project.


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