Statoil cancels offshore-wind project in Maine

10/16/2013 |

Statoil is withdrawing its proposal to build a $120 million offshore wind facility in Maine waters, saying the state's decision to reopen a bidding process was detrimental to the project. Industry experts and environmental groups were saddened by the company's decision, saying the state's action could have a chilling effect on investment. Statoil's decision leaves a University of Maine-led offshore wind project as the only contender for state support.

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