Biden hates America and progressivism. This proves it /s
What an eyesore! Unlike coal plants! /s
The world’s largest offshore wind developer, Ørsted, just announced today they are abandoning two big US projects. The government claims it wants offshore wind, but something seems to be out of whack in how these projects are being supported. (Harrassment by US shipping interests, citing the Jones Act, probably doesn’t help.)
That instance in your source is definately stupid but I don’t think that is a big factor in these projects. Of shore wind projects the world over are not bringing in the revenue that was predicted to investors and now we are seeing significant cost overruns. Combine the two issues and it is hard to fund these projects without legislating higher energy costs.
This is the best summary I could come up with:
“More progress and economic opportunity are on the horizon as we put to use every tool available to bring offshore wind benefits to American workers and communities nationwide,” said Ali Zaidi, the White House national climate adviser.
But that plan has run into serious trouble lately, as developers have struggled with soaring costs, rising interest rates, supply chain delays and bursts of local opposition.
In Massachusetts, the company behind the Commonwealth Wind project terminated its contracts with state utilities this year, citing unexpected inflation, and said it plans to rebid at higher prices.
Analysts at BloombergNEF now expect that just 16.4 gigawatts of offshore wind capacity will be completed by 2030, roughly half the Biden administration’s goal.
“The delivery of the first foundations is further evidence that our Coastal Virginia Offshore Wind project continues to move forward on time and on budget to provide reliable, affordable and increasingly clean energy to our customers,” Robert Blue, Dominion’s chief executive, said in a recent statement.
As part of the approval process, Dominion agreed to relocate several turbines away from known fish havens, and to compensate local fisheries for any losses they might suffer.
The original article contains 679 words, the summary contains 191 words. Saved 72%. I’m a bot and I’m open source!
