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Giant offshore wind project axed in blow to Biden’s green goals

Global energy developers Equinor and BP on Wednesday announced they are canceling the contract for a massive wind project slated for construction off the coast of New York.

The two companies said they had reached an agreement with the New York State Energy Research and Development Authority (NYSERDA) to terminate the offshore wind renewable energy certificate for their Empire Wind 2 project. Equinor and BP explained that commercial conditions, namely inflation, interest rates and supply chain disruptions, prevented its contract for the project from remaining viable.

“Commercial viability is fundamental for ambitious projects of this size and scale. The Empire Wind 2 decision provides the opportunity to reset and develop a stronger and more robust project going forward,” Molly Morris, president of Equinor Renewables Americas, said in a statement. “We will continue to closely engage our many community partners across the state.”

“BP is supportive of NYSERDA’s leadership and commitment to offshore wind, which we believe is a critical part of New York State’s and America’s clean energy future,” added Joshua Weinstein, BP’s president of offshore wind Americas. “Offshore wind can deliver reliable renewable power as well as economic benefits to the state and its communities.”