The jettisoned projects are the latest signs of stress for offshore wind farms that use turbines larger than skyscrapers to harvest power from the sea air, where winds are most powerful and consistent. Soaring materials costs, particularly for steel, forced turbine makers to raise prices. Costs of other key services, like specialized vessels to install the turbines, have jumped sharply as well. And rising interest rates mean that it’s more expensive to take on debt.
Biden says wind farms don t cause cancer, but offshore industry faces headwinds
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World s Biggest Wind Power Projects Are in Crisis Just When World Needs Them Most
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World s biggest wind power projects are in crisis just when world needs them most
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