Developers looking to build thousands of wind turbines off the Mid-Atlantic and New England coast are coming up against a force even more relentless than the Atlantic winds: the Iron Law of Megaprojects, offering a warning of the trouble ahead for green-energy projects.
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From Boston’s Big Dig to California’s high-speed rail to New York’s 12 years-overdue and 300-percent over-budget East Side Access rail project, big boondoggles routinely demonstrate the validity of the rule. Offshore wind projects are not immune to the Iron Law, regularly experiencing vast cost overruns before a single watt is generated.