Page 11 - Commonwealth Wind News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Danish wind company Orsted wants out of a pair of New Jersey offshore wind projects so badly that it’s willing to lose up to $5.6 billion. Only one year after the Inflation Reduction Act beefed up tax incentives for renewables, the U.S. now seems further away from President Biden’s goal of generating 30 gigawatts of offshore wind power by 2030. The company—which is 51 percent owned by the Danish government—effectively told shareholders that the U.S. wind market just isn’t a great place to do bus

The administration said 15 clean energy projects were making solid progress and that it was on track to meet its goals for 2025.

The developers of a 65-turbine offshore wind project that would supply power to Rhode Island and Connecticut say they are moving ahead with the project.

European energy companies, including Denmark's Orsted, will likely write down more of their U.S. offshore wind investments this week after BP and Equinor booked $840 million in impairments in recent...

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 of new tax credits. It will report third quarter earnings on Wednesday.