Rhode Island Governor Dan McKee has signed into law legislation that will seek to expand the state’s offshore wind energy resources.
The new law requires a market-competitive procurement for between 600 and 1,000 MW of newly-developed offshore wind capacity. Rhode Island’s primary utility company, Rhode Island Energy, is required to issue the procurement no later than October 15th 2022.
McKee said that “adding offshore wind clean energy capacity is essential for meeting our new 100% renewable energy by 2033 goal and our Act on Climate emissions reductions target. It will not only be beneficial for the environment, but also create hundreds of jobs as we position Rhode Island as an economic hub of this growing offshore wind industry on the Atlantic Coast.”
Rhode Island Energy, the state’s primary utility, is required to solicit bids for 600 to 1,000 MW of new offshore wind capacity. The bill will allow the Public Utilities Commission to decide whether the utility will receive a remuneration payment of up to 1% of the contract amount. This incentive allowance will expire at the end of 2026.