Page 76 - Offshore Wind News Today

Europe’s two largest economies, Germany and the UK, have entered into a partnership providing a blueprint for their cooperation in clean energy. The p...

Recent setbacks for the U.S. offshore wind industry, capped by the withdrawal Wednesday of two large projects in New Jersey, have cast the fledgling market in a more precarious light as developers rethink some of their projects due to rising costs. Soaring prices for raw materials and higher interest rates have led major European developers to make difficult decisions about projects once hailed as the linchpins of state and federal goals for all-green energy. First-generation projects, ...

“Despite the extraordinary challenges driven by supply chain constraints, the cumulative impacts of inflation, and higher financing charges associated with building critical infrastructure projects, we are actively engaging in conversations with the administration, regulators, and elected leaders across New Jersey to identify viable solutions that will not only preserve the progress made thus far, but also facilitate the successful execution of Atlantic Shores Project 1,” Vel...

“We’re probably a little bit too ambitious,” he said. “We came in hot, we came in fast, we thought we could build projects that were inexpensive, large projects right out of the gate. And it turns out that we probably still need to go through the same learning curve that Europe did, with higher prices in the beginning and a little slower pace.”

Submitted opinion column: Miles Bidwell, Ph.D. has worked in the electricity industry for more than 40 years.

New efforts to save or replace at-risk projects New York has already approved are even more important after the New Jersey projects evaporated.

BP executive Anja-Isabel Dotzenrath criticizes the US offshore wind industry as "fundamentally broken" due to regulatory and permitting challenges, following a substantial financial impairment for the company.

The cancellation of two large offshore wind projects in New Jersey is the latest in a series of setbacks for the nascent U.S. offshore wind industry, jeopardizing the Biden administration’s goals of powering 10 million homes from towering ocean-based turbines by 2030 and establishing a carbon-free electric grid five years later.

The Biden administration is facing increasing pressure to take action to bolster the offshore wind industry after a major project was canceled in New Jersey on Tuesday, although options appear limited to ease financial hurdles facing developers. So far, the administration is reiterating that the industry will continue to grow and that President Joe Biden’s goals for 30 gigawatts of offshore wind by 2030 will be achieved, even as many states and analysts say otherwise.&nbsp...

Canada Pension Plan Investment Board (CPP Investments), through its wholly owned subsidiary CPPIB Renewables Europe S.à.r.l., today announced it has agreed to terms with a wholly owned subsidiary of Enbridge Inc. to sell its 24.5% stake in two German offshore wind assets, Hohe See and Albatros.