Negotiations for Maine’s first offshore wind research array have been put on hold following a request from Pine Tree Offshore Wind (PTOW). The company, which is developing a 12-turbine floating wind project in the Gulf of Maine, cited recent shifts in the energy market as a key reason for pausing discussions.
PTOW had been in negotiations with the Maine Public Utilities Commission and state energy officials to finalise a long-term power purchase agreement. The contract, originally due by March 31, is crucial for securing project financing. However, with growing uncertainty in the offshore wind sector, the developer has opted to delay the process.
The project, located 30 miles off Maine’s coast, is intended to showcase floating turbine technology developed at the University of Maine. If completed, it would generate up to 144 MW. PTOW has not indicated when negotiations might resume. Pine Tree Offshore Wind is developed by Diamond Offshore Wind, a Mitsubishi-owned company.
