Although the agreed price is less than the $121.64/MWh proposed by Bluewater -- and for power generated by just 200 MW of a planned 450 MW -- the 25 year PPA is a critical building block for success. Bluewater will seek further PPAs for the not contracted megawatts with other utilities, all of which are obliged to acquire RECs to show they are complying with Delaware's renewable energy law. Bluewater and other offshore developers are still waiting for federal offshore wind guidelines before they can move ahead on any wind plants.
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