Deepwater Wind, Hoboken, N.J., has revived its 28.8-MW offshore wind project in Rhode Island following passage of a new state law that will make it easier for the project to win approval of its power-purchase contract.

The new law requires the state Public Utilities Commission to consider the environmental and economic benefits the $200-million wind farm will bring to the state, rather than just the price of the power.

In late March, the commission rejected its power-purchase contract with utility National Grid at a price of 24.4¢ per KWh beginning in 2013.

Deepwater says it needs the utility contract to secure project financing for the demonstration project, a precursor to a larger wind farm of at least 350 MW it plans to build offshore near Block Island.