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South Fork Wind offers a glimpse at what’s possible as offshore wind power projects struggle to gain traction
Roughly 35 miles off the east coast of Montauk, New York, 12 turbines gently spin in the wind at Orsted’s newly developed South Fork Wind farm. The project, which connected to the grid earlier this year, is the first commercial-scale offshore wind farm in the U.S., providing enough power for 70,000 homes annually. It’s a needed bright spot for the U.S. offshore wind industry, which has faced a number of challenges getting off the ground. Rising interest rates and supply chain snags have changed project economics, forcing some developers to return to the market in search of higher contracted prices. Other projects ... (full story)
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- Posted: Oct 13, 2024 8:42pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 132
