Tag Archives: President Joe Biden’s administration
Orsted, months after a $4 billion write-off on offshore wind, decides to cut jobs, halt dividends, and quit several markets
Orsted has struggled to keep its promising wind projects alive in recent times. High costs tied to Inflation, elevated interest rates, and supply crunches took a toll on Orsted as it wrote off $4 billion linked to two large New Jersey wind projects in October. At the time, the company described America as the “most painful part of its portfolio” that it would have to make that hard decision of de-risking from—a blow for President Joe Biden’s administration that had pinned great hopes to the country’s investment in green energy. more, >> click to read<< 12:13
U.S. identifies Gulf of Maine area for offshore wind development
President Joe Biden’s administration on Tuesday said it had finalized an area of nearly 10 million acres in the Gulf of Maine for potential offshore wind development, a major step toward expanding the industry into northern New England. The announcement was the latest milestone in the government’s plan to put wind turbines along every U.S. coastline to help displace fossil fuel for power generation and fight climate change. In a statement, the U.S. Bureau of Ocean Energy Management said it would kick off a 45-day period for public comment on the area, which sits off the coasts of Massachusetts, New Hampshire and Maine. >click to read< 08:25
‘These Waters Are Hot’: U.S. Auction Opens Up Offshore Wind Farm Rush
When the U.S. last auctioned big plots of ocean to companies that wanted to build offshore wind farms a few years ago, it raked in a then-record-setting haul of $405 million. That’s set to be obliterated Wednesday,,, “We expect high bids, potentially the highest on record.” While the Trump administration only held two lease sales for offshore wind areas in four years, President Joe Biden has said he wants enough offshore wind farms to power 10 million homes by 2030 and is planning six more auctions from California to the Carolinas. Not everyone is excited about the prospect of hundreds of new turbines,,, There’s also another potential problem with a record-setting sale: power prices. Since developers will eventually be passing on the costs of building the wind farms to the homeowners and businesses that buy the electricity they generate, bidding wars and high prices for the tracts of ocean could eventually boost the price of that power. >click to read< 13:58
In North Carolina, an ambitious goal – Cooper seeks to ignite offshore wind farm projects
The governor issued an executive order directing his Commerce Department to create a task force that would seek to advance projects and boost their economic benefits, and to name a clean energy economic development coordinator. Cooper’s order also sets a electric production goal for offshore wind energy of 2.8 gigawatts off the North Carolina coast by 2030 and 8 gigawatts by 2040. Meeting the 2040 goal would be the equivalent of powering roughly 2.3 million homes,,, >click to read< Gov. Roy Cooper has set ambitious goals for wind energy off the North Carolina coast over the next two decades as part of his plan to fight climate change by shifting away from fossil fuels. >click to read< 11:08
