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Bloomberg News admits ‘Horrible Year for US Offshore Wind’ – ‘Lots of cancelled projects’ – Asks ‘Can the industry turn around?’

https://www.bloomberg.com/news/articles/2024-06-06/understanding-the-horrible-year-for-us-offshore-wind?embedded-checkout=true

 

Last year was a bad one for the US wind power industry, with lots of cancelled projects, write downs and an overall reassessment of how the math behind these mega projects might shake out in an era of higher interest rates and supply chain disruptions. But despite all of that, renewable power from wind is still a big part of America’s plans to transition towards cleaner energy, with billions of government dollars earmarked to help build out capacity. So what went wrong last year and how’s the industry looking now? In this episode, we speak with David Hardy, CEO of the Americas for Orsted, one of the biggest players in wind power. He talks about recent challenges, the potential implications of another Trump presidency, as well as when we might see subsidy-free onshore wind projects in the US. This transcript has been lightly edited for clarity.

 

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