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> Statoil pulls out of $120m wind project in Maine
Statoil pulls out of $120m wind project in Maine
16 Oct 2013
Norway’s Statoil has announced that it is pulling out of its $120 million wind project in Maine.
The company’s proposal was to put four wind turbines 12 miles off the coast of Maine. The project was put on hold earlier in the year after the competitive bidding process was reopened, which allowed the University of Maine to make its application.
The withdrawal has been a huge blow to Maine’s ability to cultivate an offshore wind industry, but Statoil cites the change in policies in the last stage of this year’s legislative session was a key factor in their decision to leave.
Statoil will now focus its effort on a similar project in Scotland where it believes the government policy is clearer.
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