For now, developer Bluewater Wind Delaware is “maintaining” the lease but “there’s no other activity at present,” an NRG spokesman said.
NRG’s position is that the lease makes Bluewater’s dormant two-phase 450MW Mid-Atlantic Wind Park appealing to strategic and financial investors, as the parent company looks for a buyer or partners to move the project forward.
The value of the lease could increase significantly later this decade as states increasingly coordinate policies on a regional basis that would build demand, lower costs and shorten development times for projects.
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