BP and Equinor have terminated their power agreement with New York state for a 1.3-gigawatt wind farm in the Atlantic Ocean, citing changing economic circumstances that made the Empire Wind 2 project unviable. The cancellation signals growing pains for wind power in the New York region and reflects industry-wide economic changes, including soaring costs, high interest rates, and supply chain challenges. The decision is seen as a significant setback for renewable energy efforts and raises questions about the commercial viability of green energy projects.
Another offshore wind project is canceled, citing inflation, interest rates, and supply chains The companies said the agreement reflects “changed economic circumstances on an industry-wide scale." Read more ⬇️ https://t.co/GU5CodP6aC
Developers Cancel Huge Offshore Wind Contract In Latest Blow to Biden’s Climate Agenda https://t.co/jtogt6WAgv
Soaring costs & high interest rates have made offshore wind projects uneconomical. "Equinor, BP scrap offshore wind contract over economic problems." https://t.co/VtWVOJif9I
“Giant offshore wind project axed in blow to Biden's green goals” Green energy pipe dreams keep crashing into the reality of “COMMERCIAL VIABILITY.” That’s why so many government-designed industrial policies end up in the trash heap of history. https://t.co/dMvkormsYn
Opinion | Green energy was 2023's biggest loser. Will Biden and progressives wake up in 2024? https://t.co/Pcs4d0lGlN
Daily Briefing | BP, Equinor tear up contract for big New York offshore wind project ➡️ https://t.co/hT0pCDhPcs https://t.co/j10DEirnlm
BP and Equinor terminate their power agreement with New York state for a 1.3-gigawatt wind farm in the Atlantic Ocean https://t.co/oTtyrXIpsg
The cancellation by Equinor and BP signals more growing pains for wind power in the New York region. https://t.co/7Q6ruQNK1E
BLOOMBERG: BP, EQUINOR PULL OUT OF NY OFFSHORE WIND New York tore out Indian Point, 2.2GW of constant power at $40-50 per MWh production cost. It's ok, they said! The wind revolution is here! We can just use natural gas until then. But now fossil fuel giants BP and Equinox are… https://t.co/0efiP8nTlh
Another huge blow for renewable energy to fight climate change: BP and Equinor have scrapped a massive offshore wind power project off New York's Long Island. Empire Wind 2 can't go forward b/c of cost increases. The whales win again! 🐳 https://t.co/ItKvQlxgjS
BP and Equinor scrap New York offshore wind contract as costs rise https://t.co/6qE4bIFcYj
BP and Equinor Cancel Big New York Offshore Wind Project https://t.co/ANsGUZYxes
Statement on termination of Equinor’s proposed offshore wind project. ⤵️ https://t.co/pxnO3ndBrV
Equinor, bp just scrapped their 1.2 GW Empire Wind 2 offshore wind farm https://t.co/ygiAQQ9uzt by @michelle0728
Equinor and BP cancel contract to sell offshore wind power to New York https://t.co/KgQ6u8Hr00 https://t.co/L6228r6aRt
BP and Equinor have terminated their power agreement with New York state for a 1.3-gigawatt wind farm in the Atlantic Ocean, blaming changing economic circumstances that made the Empire Wind 2 project unviable. https://t.co/S7886qQQWK