Developers in the U.S. offshore wind industry will likely cancel some power sales contracts in New York after the state last week denied passing on more of the costs to consumers, but major projects off Massachusetts and Rhode Island are set to start up later this year…
The head of BP's gas & low carbon business said on Wednesday the U.S. offshore wind industry is 'fundamentally broken' but issues can be resolved, after BP and partner Equinor wrote down $840 million on their U.S. projects.Orsted, the world's largest offshore wind developer…
The Biden administration on Wednesday said it is committed to supporting the nascent U.S. offshore wind industry despite challenges that prompted the cancellation this week of two major planned projects off the coast of New Jersey.The White…
Norwegian energy firm Equinor will submit a proposal to pre-qualify for Norway's first offshore wind auction, the company's CEO Anders Opedal told Reuters last Friday.Equinor has formed a consortium with Germany's RWE for Soerlige Nordsjoe II…
The U.S. has no large-scale commercial wind farms in operation today, but President Joe Biden's administration aims to have 30 gigawatt (GW) installed by 2030 to help decarbonize the power sector and revitalize domestic manufacturing.The federal…
On March 29, 2021, President Biden announced his ambitious plan to deploy 30 gigawatts (GW) of offshore wind power – enough energy to power 10 million U.S. homes – by 2030. The plan would leverage authorities under the Department of Interior…
A perfect storm of supply chain delays, design flaws, and higher costs in the offshore wind industry has put dozens of projects at risk of not being delivered in time for countries to meet climate goals, industry executives, investors, and analysts said…
Macquarie is considering selling its 25% stake in Race Bank, a 573-megawatt offshore wind farm located off Britain's Norfolk coast, according to two sources with knowledge of the matter.The infrastructure group is working with advisors on the sale…
Denmark's Orsted, the world's No. 1 offshore wind farm developer, said on Wednesday it anticipates impairments of up to 5 billion Danish crowns ($729.78 million) on its U.S. portfolio, as there is an increasing risk in its suppliers' ability to deliver on their commitments…
Denmark's Orsted, the world's largest offshore wind farm developer, is prepared to walk away from projects in the U.S. unless the Biden administration guarantees more support, Bloomberg News reported on Tuesday, citing the company's CEO. 'We are still upholding a real option to walk away…
A wind energy developer owned by France's TotalEnergies and a unit of Macquarie said on Monday it is bidding to build a wind farm off New Jersey's coast, expressing confidence in the sector after a series of U.S. setbacks.Spinning power from…
President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders…
The Biden administration will complete its ambitious offshore wind leasing schedule on time next year, the Interior Department told Reuters, despite delays to preparatory work for the auctions and sagging demand from the industry.President Joe…
The value of Danish energy company Orsted, the world's largest offshore wind farm developer and a big player in the U.S., has plunged about 31% since it declared $2.3 billion in U.S. impairments in late August due to supply delays, high interest rates and a lack of new tax credits…
A fleet of U.S. offshore wind projects central to President Joe Biden's climate change agenda may not move forward unless his administration eases requirements for subsidies in the year-old Inflation Reduction Act, according to project developers…
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