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Several developers in the US In recent months have asked to renegotiate power supply contracts.
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...
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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.