Someone seems to be missing their ⌀. I put it in the headline but am too lazy to replace it in the text.
From Reuters via gCaptain, September 18:
U.S. President Joe Biden’s plan to deploy 30,000 megawatts (MW) ofoffshore wind by 2030 is still possible, although not easy, the CEO of Orsted ORSTED.CO, the world’s largest offshore wind developer, said on Monday at the Climate Week NYC event in New York.
The remarks by Orsted CEO Mads Nipper come as soaring costs and supply chain delays have increasingly cast doubt on the Biden administration’s goal, a cornerstone of its plan to fight climate change. The Danish company said at the end of August that it may see U.S. impairments of $2.3 billion due to the market challenges.
Orsted Ready to Abandon U.S. Wind Projects Amid Challenges
“We’ve seen dark clouds gather,” Nipper said, noting that interest rates going from largely 0% to 4%, which is having a “very dramatic impact on renewables because the fuel of the renewable industry is capital.”
“We don’t need gas or oil or coal. It’s capital and that overnight has become significantly more expensive,” Nipper said.
Other challenges include “financially fragile” supply chains, “relatively uncertain policy frameworks,” and rising costs for “everything we need” from turbines to foundations and substations, Nipper said.
Policymakers and the industry need to accept that “for a little while the price of renewable power will have to go up, but we will bring it down again,” Nipper said....
....MUCH MORE
Ørsted, "World's Largest Offshore Wind Farm-Maker Crashes Most On Record After Catastrophic Results"
"The first US offshore wind auction in the Gulf of Mexico was a dud"
Although we didn't focus on it in August 30's "Ørsted, "World's Largest Offshore Wind Farm-Maker Crashes Most On Record After Catastrophic Results"", during that same conference call Ørsted said it considered abandoning their big offshore New Jersey wind farm but will stick with it, for now.
