Rhode Island, Massachusetts, and Connecticut have jointly announced a postponement of the bid submission deadline for their upcoming offshore wind procurement rounds. Originally slated for January 31, 2024, the deadline has now been extended to March 27, allowing potential bidders additional time to participate in the process.
According to the revised schedule, project selections will be made by August 7, a shift from the initial plan of June. Contract execution will follow, now set for completion by October 9.
Notably, the extended timeline encompasses the inclusion of Multi-State Bids, providing developers with the opportunity to submit proposals that distribute power supplies and associated benefits among all three states.
The decision to extend the deadline is driven by the states' recognition of the potential impact of key tax credits available to offshore wind projects. The Internal Revenue Service's guidance, particularly regarding the Energy Communities 10% bonus, is anticipated to offer valuable insights to interested bidders.
This extension aims to facilitate a more informed and competitive bidding process, allowing developers to navigate regulatory considerations with greater clarity and potentially leverage available tax incentives for offshore wind projects.