It wasn't that long ago that Bluewater Wind's main opponents were Delmarva Power and NRG Energy.
But if Bluewater's offshore wind farm gets built, it may have both to thank for keeping the project afloat.Why? NRG and Delmarva Power fought Bluewater tooth and nail. Nathans asked me:
"You know how people say soccer is the sport of the future and always will be? I think that's how people have felt about wind power," said Noyes, whose blog is called TommyWonk. Company officials thought of offshore wind as "experimental, nice to do someday. Well, someday is here."
The fundamental reason that NRG would want to buy Bluewater and Delmarva isn't fighting the deal is that wind power is makes economic sense for the investor and the customer. Nathans points out that "Bluewater's main asset is the Delmarva contract." NRG would be buying a PPA that provides 25 years of revenue, which is hard to do in any business. And Delmarva Power is buying 25 years of power at a set price, which is almost impossible to do in the energy business.
"Update:" I'll be discussing Bluewater with Allan Loudell on WDEL, 1150 AM, today at 5:35
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