Page 27 - Commonwealth Wind News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 the inflationary impact,” said Finlay Clark, an analyst at Wood Mackenzie, a consulting fi...

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.