Tag Archives: BOEM auctions
U.S. Offshore Wind: The Struggle Continues
This post updates the financial troubles of Denmark’s Ørsted, recent BOEM auctions, and pushback against Maryland governor Wes Moore. Today, operational offshore wind capacity is less than 50 megawatts versus the Biden-Harris Administration goal of 30,000 MW by 2030. Denmark’s Ørsted, the worldwide leading offshore wind developer, recorded a $575 million loss in the second quarter. In part, the loss is the result of disappointing developments in the U.S. The company has delayed commercial operation of its 704-MW Revolution Wind project off the coast of Rhode Island and Connecticut from 2025 to 2026. Ørsted’s ambitious U.S. offshore wind program has been lagging, despite solid support (subsidies, permits) from the Biden administration. more, >>CLICK TO READ<< 06;50
