PROVIDENCE, R.I. (AP) — Rhode Island regulators have approved a power contract for developers of a new offshore wind farm.

Danish-based Ørsted U.S. Offshore Wind and Eversource say the Rhode Island Public Utilities Commission approved their 20-year power purchase agreement with National Grid Tuesday.

Ørsted and Eversource are co-owners of the proposed wind farm, called Revolution Wind. The plans call for up to 50 turbines in federal waters south of Martha's Vineyard, Massachusetts.

The turbines are expected to generate enough energy to power about 270,000 homes, roughly a quarter of the homes in Rhode Island. Local construction could start in Rhode Island in 2020 with commercial operations by 2023.

In a statement, Rhode Island Governor Gina Raimondo voiced her support of the project.

"Two years ago, I pledged to increase our clean energy portfolio tenfold by 2020. Today's approval by the [Public Utilities Commission] brings us within reach of that goal." Raimondo commented.

Connecticut separately plans to purchase power from turbines at the same federal lease site.

Ørsted is planning several more U.S. wind farms off the coast of Rhode Island, Massachusetts, New Jersey, Delaware, and Virginia.