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Days before Trump takes office, Brayton Point loses $300 million offshore wind cable plant development project

  • The Italian company Prysmian Group canceled its $300 million cable manufacturing plant project at Brayton Point, impacting offshore wind development on the East Coast and the local economy of Somerset, Massachusetts.
  • Prysmian Group spent nearly three years obtaining necessary permits but decided to withdraw just days before Donald Trump took office.
  • Trump's inauguration raises uncertainty for offshore wind contracts, leading utilities Avangrid and Ocean Winds to extend their deadline for a deal to May.
  • The cancellation threatens Somerset's economic recovery, which relied on the promise of over 100 jobs and significant tax revenues from the Prysmian plant, according to Jamison Souza, chair of the Somerset Select Board.
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rhodeislandcurrent.comrhodeislandcurrent.com

Brayton Point loses $300 million offshore wind cable plant development project • Rhode Island Current

Prysmian Group, one of the world’s largest cable manufacturers, has walked away from plans to build a $300 million offshore wind cable plant at Brayton Point in Somerset, Mass. The facility was expected to bring more than 100 jobs to the region. (Photo by Prysmian Group) The Italian company seeking to build a cable manufacturing plant at Brayton Point in Somerset, Massachusetts, pulled the plug on the $300 million project Friday, dealing a major…

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CommonWealth BeaconCommonWealth Beacon
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energynewsbeat.coenergynewsbeat.co

Days before Trump takes office, Brayton Point loses $300 million offshore wind cable plant development project

THE ITALIAN COMPANY seeking to build a cable manufacturing plant at Brayton Point in Somerset, Massachusetts, pulled the plug on the $300 million project Friday, dealing a major blow to offshore wind development on the East Coast as well as the economic prospects of the small South Coast town.The Prysmian Group spent nearly three years obtaining all the necessary state and local permits, including beating back a regulatory challenge brought by a…

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Fall River ReporterFall River Reporter

State Rep Justin Thurber: Prysmian nixes Offshore Wind cable plant on Brayton Point

Local offshore wind has taken a hit after an announcement that was made Friday by a local politician. According to State Rep. Justin Thurber, Prysmian will not be moving forward with their option to buy the land from Commercial Development Company in Somerset. "This means they will not be bui

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Fall River Reporter broke the news in on Friday, January 17, 2025.
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