Rhode Island Energy buys 400 megawatts from the farm at a fixed wholesale price for 20 years, and a state-commissioned study projects modest savings for customers over that term.
Ørsted, the Danish developer of the Revolution Wind offshore wind farm, said Thursday that the 704-megawatt project reached commercial operations in October. The company disclosed the milestone in its third-quarter interim report, released Nov. 5.
For Rhode Island, the stake is a long-term contract. Rhode Island Energy holds a 20-year agreement to buy 400 megawatts of the farm’s output, and Connecticut utilities hold the remaining 304 megawatts, according to an assessment prepared for the Rhode Island Office of Energy Resources by the consulting firm Power Advisory.
What the developer says
In its report, Ørsted said it finished installing the remaining turbines and that in October the project achieved commercial operations under its contracts with utilities in Connecticut and Rhode Island. The company said the farm is generating up to its full capacity. It did not publish output figures…