August 1 2008- The agreement between Delmarva and Bluewater Wind was approved on July 31st 2008 by the Public Service Commission and representatives of three other state agencies.
June 23 2008- Delmarva Power signs 25 year PPA with Bluewater Wind for up to 200 MW. Estimated project cost is US$800 million
May 7 2008:Delmarva Power and 12 electric cooperatives signed onshore wind PPA agreements to aquire 460 MW of wind.Press Release states: "Land-based wind power purchased supports Delaware’s clean energy goals, reduces the operation of regional power plants and saves Delmarva Power’s customers $80 million a year as compared to the Bluewater Wind proposal. On average this savings equals $240 per year for the typical residential customer. "
Oct 29 2007: The Delaware PSC Report concluded that Bluewater's project is "not in the public interest."According to the report, Bluewater uses an unreasonable pricing escalator, shifts project risk and costs increases onto the ratepayer, delays project timing resulting in added costs, and has increased its proposed project costs in negotiation.
Bluewater Wind has released its project bid at $1.6 billion for a 450 MW project. Delmarva Power would pay 10.59 cents/kWh or 1.05 cents higher than Bluewater's original bid. Delmarva cites that the cost of electricity as high. In late September 2007, Bluewater was acquired by leading US wind IPP Babcock Brown.