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Danish wind energy company Ørsted has seen its shares tumble after it abandoned two major wind projects in the US due to rising public opposition, evidence of harm to whales, and collapsing economic viability. The cancellation of the projects highlights the challenges facing the offshore wind industry, which is described as 'fundamentally broken' by a BP executive. The collapse of the projects also raises questions about the affordability and viability of wind power.
Ship shortage dealt death blow to Orsted's NJ offshore wind hopes https://t.co/dIpiRuhKVe https://t.co/usQevzNtmp
What's going on with offshore wind? @jeffsaintjohn investigates: https://t.co/3aEcMlAb9E
Biden’s Climate Bill Boosted An Offshore Wind Giant, But His Economy Brought It To The Brink https://t.co/AF7SPT2FNu
Offshore wind insiders are raising an alarm about yet another increasingly costly bottleneck for the industry: The subsea cables that deliver the turbines’ electricity to the onshore grid. https://t.co/kihmRkTrWV
The irony of Joe Biden's war against fossil fuels is that the ensuing inflation has made wind and solar junk even more unaffordable. https://t.co/02zmFELVFx https://t.co/elKZ0FC5vy
Dominion expects to deliver cheaper power from the largest approved offshore wind project in the US, a rare win for a wider wind sector recently beleaguered by bad news https://t.co/EajHJdvSP5
Fitch follows S&P in cutting Orsted's outlook https://t.co/1GMEbmBu1C https://t.co/rww75CmQUx
Check out the giant ship critical to building the world's biggest offshore wind farm https://t.co/r8YsL2IRjL
A gust of woes to weaken wind power industry https://t.co/lMMyjuP3y5
Collapse of projects shows again that wind power is not affordable https://t.co/uyktuJjiT1 https://t.co/kFOnQ92vs6
Trump: "Biden's policies are good for China, but they're not good for America." https://t.co/cl7pcLNHNT
Donald Trump on Joe Biden: “He's crooked and he's incompetent. That's a bad combination.” https://t.co/KXwiDWBYMg
Trump: "Biden's—Crooked Joe's—green new energy calamity is one of the biggest factors causing, as you know, the inflation disaster..." https://t.co/p8l3Kb4hHO
Trump on Biden: "He's crooked and he's incompetent. That's a bad combination." https://t.co/vHCAyUS9PF
Offshore wind is caught in an economic death spiral. Ørsted scraps 2 large offshore wind projects in New Jersey & takes a $5.6 billion hit. https://t.co/Yh4dp0lq5u
New Jersey Wind Farms Canceled After Being Offered Only $1 Billion In Taxpayer Subsidies https://t.co/4fMsK2NG8h https://t.co/4fMsK2NG8h
The wind energy crisis deepens as Danish wind energy company Ørsted cancels major U.S. projects in the face of rising public opposition, evidence of harm to whales and collapsing economic viability. https://t.co/lWucBKkJyh
BP Exec Describes US Offshore Wind Industry As "Fundamentally Broken" https://t.co/EgWXJrLxu4
Economic blows batter Biden’s clean energy goals https://t.co/XEpaMgiGZa
Ørsted shares tumble after company ditches two US wind projects https://t.co/ynL4goLzaZ