Wind Power Write-Downs Cast Shadow Over Industry Outlook

📆 1-11-2023 22:08:00
📰 WSJ

⏱ Reading Time:
36 sec. here
2 min. at publisher
📊 Quality Score:
News: 18%
Publisher: 63%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Orsted is the latest renewable-energy company to book an impairment, with a $4 billion charge against its U.S. offshore portfolio

A wave of impairments is sweeping through the U.S. wind-energy sector amid high interest rates, inflation and supply-chain woes, forcing developers to put off projects and casting doubts over the industry’s outlook.

The decision came a week before legislative elections in New Jersey, where wind turbines have become a top target for Republicans against Democratic Gov. Phil Murphy’s plan to have 100% of the state’s power coming from renewables by 2035. Earlier this week, BP booked a $540 million pretax impairment charge on three wind projects off the coast of New York afterto renegotiate power-purchase terms to reflect inflationary pressures and permitting delays. Equinor, BP’s partner on the Empire Wind and Beacon Wind projects, booked an impairment of around $300 million on its U.S. portfolio. The companies said they are assessing the impact of the regulators’ decision on their future development plans.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

Schrijf commentaar

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Wind industry deals with blowback from Orsted scrapping 2 wind power projects in New JerseyWind energy developer Orsted is writing off $4 billion, due largely to the cancellation of two large offshore wind projects in New Jersey whose financial challenges mirror those facing the nascent industry.
Bron: wjxt4 - 🏆 246. / 63 Lees verder »