This past August, as things were beginning to really heat up as far as inflationary and warranty pressures on wind farm developers like Ørsted and turbine manufacturers like Siemens Gamesa, most of th.
Companies looking to develop wind turbine projects must negotiate contracts with utilities companies to provide them with power. SouthCoast Wind, a developer planning to build a wind turbine farm about 30 miles south of Martha’s Vineyard, procured contracts to supply power in Massachusetts in 2020 and 2021. SouthCoast Wind revealed its plans to withdraw from its original contracts earlier this summer, saying in a filing with the Rhode Island Energy Facility Board that the project was no longer viable under the terms they had already negotiated with state utility companies and that they planned to bid for new contracts during the current round of offshore wind procurement.
The U.S. offshore wind industry appears to have encountered turbulence in recent weeks, a development which could complicate President Joe Biden’s climate agenda.