Demand for US East Coast offshore wind remains despite gust of disruptions

Canceled contracts, scrapped projects and multiple quarters of impairments have painted an increasingly dire picture for US offshore wind development in recent weeks, but many observers and analysts still anticipate these projects will get built. In January alone, BP and Eversource Energy disclosed expected fourth-quarter 2023 write-downs, BP and Equinor split up their East Coast joint venture, and Ørsted both…Canceled contracts, scrapped projects and multiple quarters of impairments have painted an increasingly dire picture for US offshore wind development in recent weeks, but many observers and analysts still anticipate these projects will get built. In January alone, BP and Eversource Energy disclosed expected fourth-quarter 2023 write-downs, BP and Equinor split up their East Coast joint venture, and Ørsted both…  Read More