Page 79 - Offshore Wind News Today

A BP executive claims the offshore wind industry is fundamentally broken in the U.S., with soaring costs and a challenging regulatory environment.

The world’s largest offshore wind developer, Orsted, halted development Wednesday on two U.S. offshore wind projects, citing higher costs and supply chain delays.

Orsted CEO Mads Nipper said in a statement the company was disappointed to be halting the projects because it believes the United States needs wind power to...

Wind energy developer Orsted is writing off $4 billion, due largely to the cancellation of two large offshore wind projects in New Jersey whose financial challenges mirror those facing the nascent industry. It added fresh uncertainty to an industry seen by supporters as a way to help end the burning of planet-warming fossil fuels, but derided by opponents as inherently unworkable without massive financial subsidies.

Energy giants BP(BP.L) and Norway's Equinor(EQNR.OL) have booked hundreds of millions of dollars worth of impairments on their U.S. offshore wind power portfolios in recent days, the latest examples of a renewable energy industry in turmoil. Danish energy company Orsted (ORSTED.CO), the world's largest offshore wind farm developer and a big player in the U.S., said in late August it may see $2.3 billion in U.S. impairments due to supply delays, high interest rates and a lack o...

Ørsted cancelled Ocean Wind I and II, but still has plans in Rhode Island.

Community members can learn more about offshore wind energy at a public information session this Wednesday, Nov. 1, in San Luis Obispo.

The Danish energy developer expects it will write off billions of dollars as a result of the move, saying a a changed economic situation and supplier delays prompted the cancellation.

Danish energy company Orsted announced Tuesday that it has canceled two wind energy projects that were planned for New Jersey.

Now that the first offshore wind turbine has been installed off of New Bedford's coast, we sat down with New Bedford Mayor Jon Mitchell to ask him about the project.