“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!
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“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!