It's not just Orsted that just realized the Green revolution is really deep red when it comes to shareholder value. Speaking at the FT Energy Transition summit on Wednesday, a clean energy executive at supermajor BP said that the U.S. offshore wind industry is “fundamentally broken” and needs a reset. But the regulatory and permitting environment for the industry can be fixed, Anja-Isabel Dotzenrath, head of Gas and Low Carbon Energy at BP, said on the conference, as carried by Reuters.
offshore wind projects. BP and Equinor’s filing to renegotiate the power purchase agreements associated with the Empire Wind 1 and 2 and Beacon Wind 1 wind farms off the coast of New York was rejected last month. “Equinor and BP are assessing the impact of the decision on these projects and future development plans,” BP said.