The two US wind projects that are seeking to end their Massachusetts power purchase agreements(PPAs)may together have to forfeit $108mn in contract penalties and fines,according to a local podcast and magazine.Representative Jeffrey Roy,the state House of Representatives chair of the ...
Floating foundations are one that is quickly being developed and will become more mainstream for west coast offshore wind. The technology is still fairly new so many are still going with what is known. What are Developers, Vessel Designers, OEM Integrators doing to reduce the Capex ...
If awards were given for dominating the sustainable energy spotlight, offshore wind (OSW) would surely be in line for top honors. Consider: Big money: BOEM’s February sale of New York Bight offshore wind development rights drew a record $4.37 billion in developers’ bids. Not only is ...
“Offshore wind might appear to be on the chopping block — Trump’s explicitly said this was something he’d fix on the first day — but when the economics of offshore wind are in alignment with his overall strategies of returning manufacturing to America and be...
About usEquinor is a global leader in offshore wind and a broad energy company. Our purpose is to turn natural resources into energy for people and progress for society. We have been present in the US since 1987 and have become one of America’s largest offshore wind developers. Our US ...
Speeding up federal approvals for offshore wind farms is an important first step, but those aren’t the only hurdles for offshore wind farm developers. A large number of state environmental and coastal agencies also must approve offshore wind farm plans, and the communities where cables come ...
The US offshore wind industry faces a perfect storm of rising costs, permittingdelaysand grid connection hurdles – all leading to low returns. Inflation and supply chain challenges have driven up capital expenditure, while financing costs have spiraled due to rising interest rates. Developers want...
“Our offshore wind leasing schedule will provide predictability to help developers and communities plan ahead and will provide the confidence needed to continue building on the tremendous offshore wind supply chain and manufacturing investments that we’ve already seen,” said Secretary of the Interior...
It’s important to have a local manufacturing base and enough trained or trainable workers to carry out construction, operations and maintenance. And wind power developers need customers, so they will want to know whether nearby states will require their utilities to buy offshore wind electricity ...
Getting offshore wind projects permitted and approved in the U.S.takes yearsand is fraught with uncertainty for developers, more so than in Europe or Asia. Before a company bids on a U.S. project, the developer must plan the procurement of the entire wind farm, including making reservations...