Investment in wind power cratering!

[skookerasbil]

Whoooops....won't read or see this anywhere in the legacy media....

Profound levels of lOsiNg. Evidently, Bidenomics highly ghey for green energy advocates....the giant wind companies got stiffed. Investors bailing like rats on the Titanic.

Funniest thing of all? Dollar to a bagel not a single climate crusader knows about it...all they digest is green propaganda gheyness

Turbulent Times For Biden's Offshore Wind Farms As Orsted CEO Warns: Abandoning US Projects A 'Real Option' | ZeroHedge

 

[skookerasbil]

Bah Bah Booey

 

[The Duke]

Wind power; It's just not viable.

 

[BlindBoo]

Orsted's delays were triggered by bureaucratic uncertainties during the previous US administration and were intensified by supply-chain disruptions during the COVID-19 pandemic. Biden's push on clean energy helped accelerate some plans, but high-interest rates and delays in procuring foundations, known as monopiles, for its wind turbines slowed developments even more.

Because final investment decisions weren't made and the projects were being funded by the company's balance sheet, the fact that long-term interest rates in the US soared above 3% means Orsted's cost of capital is higher.

"For a company like ours, where the targeted range of returns is 150 to 300 basis points above our cost of capital, it has essentially made this extremely tough," Nipper said.

Nipper said Orsted couldn't have predicted the industry turmoil, yet an investor selloff saw the company lose $8 billion in value last week after impairments were booked on several US projects. Longer-term plans also are at risk, with developments near New Jersey and Delaware not investible right now, he said.

 

[jotathought]

Wind power relies on ... well .. wind power .. a non-consistent source of force. Duh

 

[skookerasbil]

Wind power relies on ... well .. wind power .. a non-consistent source of force. Duh

Still supplies only 7% of US grid electricity

 

[okfine]

Orsted's delays were triggered by bureaucratic uncertainties during the previous US administration and were intensified by supply-chain disruptions during the COVID-19 pandemic. Biden's push on clean energy helped accelerate some plans, but high-interest rates and delays in procuring foundations, known as monopiles, for its wind turbines slowed developments even more.

Because final investment decisions weren't made and the projects were being funded by the company's balance sheet, the fact that long-term interest rates in the US soared above 3% means Orsted's cost of capital is higher.

"For a company like ours, where the targeted range of returns is 150 to 300 basis points above our cost of capital, it has essentially made this extremely tough," Nipper said.

Nipper said Orsted couldn't have predicted the industry turmoil, yet an investor selloff saw the company lose $8 billion in value last week after impairments were booked on several US projects. Longer-term plans also are at risk, with developments near New Jersey and Delaware not investible right now, he said.

The word "previous" eluded the OP.

 

[okfine]

Wind power relies on ... well .. wind power .. a non-consistent source of force. Duh

The largest wind turbine in the world set a generation record during a typhoon.

The world's largest wind turbine set a new electricity generation record – during a typhoon

The world's largest offshore wind turbine has set a new world record for electricity generation by an individual wind turbine in a 24-hour period.

electrek.co

 

[okfine]

Ørsted and Eversource close $625 million deal for Massachusetts offshore wind lease area

Read Ørsted and Eversource close $625 million deal for Massachusetts offshore wind lease area and other wind energy news & analysis on Windpower Monthly

www.windpowermonthly.com

Doesn't look like Orsted is backing out.

 

[jotathought]

The largest wind turbine in the world set a generation record during a typhoon.

The world's largest wind turbine set a new electricity generation record – during a typhoon

The world's largest offshore wind turbine has set a new world record for electricity generation by an individual wind turbine in a 24-hour period.

electrek.co

Yes ... because those happen everyday .. how about those average days of production?

 

[Toddsterpatriot]

Whoooops....won't read or see this anywhere in the legacy media....

Profound levels of lOsiNg. Evidently, Bidenomics highly ghey for green energy advocates....the giant wind companies got stiffed. Investors bailing like rats on the Titanic.

Funniest thing of all? Dollar to a bagel not a single climate crusader knows about it...all they digest is green propaganda gheyness

Turbulent Times For Biden's Offshore Wind Farms As Orsted CEO Warns: Abandoning US Projects A 'Real Option' | ZeroHedge



View attachment 826575

Wind power blows........

 

[Magnus]

Whoooops....won't read or see this anywhere in the legacy media....

Profound levels of lOsiNg. Evidently, Bidenomics highly ghey for green energy advocates....the giant wind companies got stiffed. Investors bailing like rats on the Titanic.

Funniest thing of all? Dollar to a bagel not a single climate crusader knows about it...all they digest is green propaganda gheyness

Turbulent Times For Biden's Offshore Wind Farms As Orsted CEO Warns: Abandoning US Projects A 'Real Option' | ZeroHedge



View attachment 826575

LOL Won't read anywhere in the legacy media if you discount Bloomberg news from which this was originally taken!

From your own link:
The world's largest offshore wind farm developer is preparing to walk away from US projects unless the Biden administration guarantees more support, Bloomberg reported.

Gad, do you idiots even read the link before you post?

But, to get a better perspective on wind farms, let's turn to that "liberal" news outlet WSJ, shall we?

Offshore wind is a promising clean-power technology because it should be highly productive once the capital is invested. As the ocean is windy, the capacity factor of offshore farms—a measure of how efficiently they generate electricity—is higher than both onshore wind farms and solar power. Installing wind turbines out at sea is also less controversial than on land, so the politics should be easier, in theory.

In reality, the industry is hamstrung by politics at all levels. Transmission bottlenecks to get power from offshore wind farms to land are now a major obstacle to delivering projects on time. Governments that dole out green subsidies with one hand set unfavorable terms for seabed auctions with the other.

There are also self-inflicted problems. Turbine manufacturers raced to make bigger and bigger models, driving down costs and making offshore wind nominally competitive with fossil fuels in many regions. But the rapid churn also made important parts of the supply chain obsolete: Older-installation vessels can’t handle the new, supersize turbine blades and towers.

While the industry needs to get better at understanding the hidden costs of innovation, governments will have to pay more if they want offshore wind power to help reduce carbon emissions. “Policymakers got used to 20 years of continuously falling prices for renewables. All of a sudden, that has reversed and they have been slow to react,” says Chris Seiple, vice chairman of Wood Mackenzie’s power and renewables group.

Offshore wind power is becoming a prime casualty of the shift in financial markets away from the old world of smooth supply chains, low inflation and free money. The industry and its political backers need to work together to find a model better suited to stormier times.

America’s Wind-Farm Revolution Is Broken

Even with generous green subsidies, offshore wind projects are being called off as developers struggle to make a profit.

www.wsj.com

Bottom line? Offshore ocean wind farms are highly productive in terms of energy outlay but there are the usual challenges with financing and politics. Once, the capitol is found, it will pay off.

Not sure why you idiots would be so excited to have this industry fail. Isn't getting energy domestically better than relying on Arab oil?

 

[Toddsterpatriot]

LOL Won't read anywhere in the legacy media if you discount Bloomberg news from which this was originally taken!

From your own link:
The world's largest offshore wind farm developer is preparing to walk away from US projects unless the Biden administration guarantees more support, Bloomberg reported.

Gad, do you idiots even read the link before you post?

But, to get a better perspective on wind farms, let's turn to that "liberal" news outlet WSJ, shall we?

Offshore wind is a promising clean-power technology because it should be highly productive once the capital is invested. As the ocean is windy, the capacity factor of offshore farms—a measure of how efficiently they generate electricity—is higher than both onshore wind farms and solar power. Installing wind turbines out at sea is also less controversial than on land, so the politics should be easier, in theory.

In reality, the industry is hamstrung by politics at all levels. Transmission bottlenecks to get power from offshore wind farms to land are now a major obstacle to delivering projects on time. Governments that dole out green subsidies with one hand set unfavorable terms for seabed auctions with the other.

There are also self-inflicted problems. Turbine manufacturers raced to make bigger and bigger models, driving down costs and making offshore wind nominally competitive with fossil fuels in many regions. But the rapid churn also made important parts of the supply chain obsolete: Older-installation vessels can’t handle the new, supersize turbine blades and towers.

While the industry needs to get better at understanding the hidden costs of innovation, governments will have to pay more if they want offshore wind power to help reduce carbon emissions. “Policymakers got used to 20 years of continuously falling prices for renewables. All of a sudden, that has reversed and they have been slow to react,” says Chris Seiple, vice chairman of Wood Mackenzie’s power and renewables group.

Offshore wind power is becoming a prime casualty of the shift in financial markets away from the old world of smooth supply chains, low inflation and free money. The industry and its political backers need to work together to find a model better suited to stormier times.

America’s Wind-Farm Revolution Is Broken

Even with generous green subsidies, offshore wind projects are being called off as developers struggle to make a profit.

www.wsj.com

Bottom line? Offshore ocean wind farms are highly productive in terms of energy outlay but there are the usual challenges with financing and politics. Once, the capitol is found, it will pay off.

Not sure why you idiots would be so excited to have this industry fail. Isn't getting energy domestically better than relying on Arab oil?

Bottom line? Offshore ocean wind farms are highly productive in terms of energy outlay but there are the usual challenges with financing and politics. Once, the capitol is found, it will pay off.

But it won't pay off, that's why they can't find the capital now. LOL!

Isn't getting energy domestically better than relying on Arab oil?

It is better. How many new nuclear reactors should we build?
How much more fracking do we need?

 

[skookerasbil]

The largest wind turbine in the world set a generation record during a typhoon.

The world's largest wind turbine set a new electricity generation record – during a typhoon

The world's largest offshore wind turbine has set a new world record for electricity generation by an individual wind turbine in a 24-hour period.

electrek.co

Oh God...nobody cares.

That's akin to 50 babes with big boobs standing in a room together and in walks a bulldog with little raisin boobies