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The future of wind power off the coast of New Jersey faces uncertainty as developers cancel Empire Wind 2 project, citing inflation and supply chain disruptions.
After a challenging year for offshore wind in the US, the country saw a mixed start to 2024 with the coming onstream of the Vineyard Wind project but the t...
“It appears that the economies of scale just aren’t enough to help these projects amid these macroeconomic events,” said Timothy Fox, an analyst at ClearView Energy Partners. “All those projects were on the bubble, so it’s not surprising that Equinor and BP want to reduce some of the risk they’re facing.” About 17.5 gigawatts of US offshore wind projects have won state contracts, and proposals representing more than half of that are in dispute or have been canceled, according to Fox.
The construction of a wind energy project previously touted as an example of positive "Bidenomics" has been canceled.
The construction of a wind energy project previously touted as an example of positive "Bidenomics" has been canceled.