Avangrid terminates Park City PPAs

Avangrid has terminated all power purchase agreements at its 804MW Park City Wind offshore project in US waters because it said they are no longer viable.

The utility, which is a subsidiary of Iberdrola, said the project was unfinanceable with its current PPAs following "record inflation, supply chain disruptions, and sharp interest rate hikes" for offshore wind developers. Avangrid has agreed with Connecticut Electric Distribution Companies to terminate the 20-year deals with Eversource Energy and United Iluminating.

The project is due to be located 37km off the coast of Massachusetts.

Read more

‍