Offshore Wind Project Blow: Brayton Point Loses $300M Cable Plant Development
2025-01-18
YAHOO!News
In a significant setback for offshore wind development on the East Coast, an Italian company has withdrawn its plans to build a $300 million cable manufacturing plant at Brayton Point in Somerset, Massachusetts. This move deals a major blow to the local economy and the town's economic prospects. The project's cancellation is a significant loss for the region, which had been banking on the creation of new jobs and investment in the renewable energy sector, including offshore wind energy and wind farms. The decision may impact the growth of the offshore wind industry, a key area of focus for renewable energy solutions.
