With Statoil's exit, wind industry looks to UMaine

2:29 PM, Oct 25, 2013   |    comments
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Associated Press

AUGUSTA, Maine (AP) - Renewable energy advocates say a Norwegian company's decision to abandon its offshore wind power project in Maine is a setback, but there's still hope to build the industry in the state. 

The company, Statoil, announced this month that changes in its contract terms with the state and scheduling delays have caused too much uncertainty to move forward with its $120 million project.

A proposal by the University of Maine and its partner companies is the now the only project being considered in Maine. The public will get its first look at the proposal next week when state regulators release some details.

Advocates say they remain hopeful about the university's prospects to obtain a contract with the state and are optimistic that Maine can attract future offshore wind business.

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