Page 14 - Commonwealth Wind News Today

With interest rates shooting up, financing the billions of dollars in investment that go into these installations has also become far more expensive. On Monday, the turbine maker Siemens Energy reported a net loss of 2.9 billion euros ($3.2 billion) for the April-June quarter, largely because of problems tied to “increased product costs and ramp-up challenges” in its offshore energy business. “There’s very few projects that are immune to ...

Decision to halt wind farm project off UK coast points to wider issues

Some troubled projects are raising concerns about the role to be played by offshore wind farms in tackling climate change.

Martha’s Vineyard, Massachusetts, project that will power 400,000 homes makes progress amid industry turmoil

It’s the first offshore power substation in the US and in October it is expected to start delivering electricity from Vineyard Wind.

The turbines will be as tall as the Washington Monument with the Statue of Liberty stacked on top. 

The anticipated rate impacts of a new generation of offshore-wind turbines are getting new scrutiny as energy companies push New York State to adjust contracts for the escalating costs of building the projects.

It’s the first offshore power substation in the US and in October it is expected to start delivering electricity from Vineyard Wind.

About 15 miles south of Martha's Vineyard, Mass., a massive structure emerges from the Atlantic Ocean. Nearby it will have the biggest turbines in the Atlantic, as tall as the Washington Monument wit...

The largest offshore wind project in the U.S. could begin making power this year. It comes as other projects stumble.