Revolution Wind
When a government’s word is no longer its bond, investors get nervous, and investors in clean energy generation plants in the United States are very nervous indeed, says columnist Dej Knuckey.
The addition of 3,500 MW of offshore wind capacity would have reduced ISO-NE energy market costs by about $400 million over the past winter, according to a recent study by Daymark Energy Advisors.
ISO-NE warned any significant delay of the Revolution Wind project will increase risk to the reliability of the New England grid and undermine the region’s economy.
The Trump administration has slapped Ørsted with a stop-work order on Revolution Wind, a 704-MW project off the New England coast that is 80% complete.
The pace of load growth has picked up across Eversource Energy’s service territories in the Northeast, the company said during its second-quarter earnings call.
Ørsted is pushing ahead with two U.S. offshore wind projects amid potential policy threats but halting development of a much larger U.K. proposal due to rising costs.
Conference attendees are optimistic that the rapidly rising demand for energy will mean the federal government eventually will have to harness wind power.
Eversource Energy executives announced during the company’s year-end earnings call its plan to increase investments in its “core electric and natural gas operations” by $1.9 billion in 2025-2028.
Three companies closely involved in offshore wind power development offered a glum assessment of the sector’s prospects in the U.S.
Ørsted CEO Mads Nipper has been replaced by Deputy CEO Rasmus Errboe.
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