More problems for US wind
The U.S. offshore wind industry has faced significant challenges in recent months. Two wind farm projects off Massachusetts were abandoned due to high costs, resulting in $108 million in termination penalties. Shell New Energies and Ocean Winds North America agreed to pay a $60 million fine and cancel their power purchase agreements for a wind farm off Massachusetts. Danish developer Ørsted may write off up to $2.12 billion due to spiraling costs, supply chain issues, and insufficient tax credits. The Gulf of Mexico wind lease sale only received one bid.
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