Posted on 01/27/2024 6:53:44 AM PST by Libloather
Multinational energy developer Orsted unexpectedly withdrew from agreements with the State of Maryland to develop two offshore wind projects, citing worsening economic conditions.
Orsted announced that it had pulled out of orders which the Maryland Public Service Commission (PSC) issued years ago greenlighting the so-called Skipjack Wind 1 and Skipjack Wind 2 projects, and selecting the projects for a 20-year Offshore Renewable Energy Credit (OREC). Maryland Democrats repeatedly pointed to the Skipjack Wind development as a key part of the state's aggressive decarbonization agenda.
"Today’s announcement affirms our commitment to developing value creating projects and represents an opportunity to reposition Skipjack Wind, located in a strategically valuable federal lease area and with a state that is highly supportive of offshore wind, for future offtake opportunities," David Hardy, Orsted's group executive vice president and CEO of its Americas division, said Thursday in a statement. "As we explore the best path forward for Skipjack Wind, we anticipate several opportunities and will evaluate each as it becomes available," he continued.
Hardy added that the decision was made in light of "challenging economic circumstances." According to Orsted, the ORECs set forth under the company's agreement with the state are no longer commercially viable as a result of market conditions, including inflation, high interest rates and supply chain constraints.
The developer, though, hasn't canceled the project altogether and will continue to advance its development and permitting, additionally submitting an up-to-date Construction and Operations Plan to the U.S. Department of the Interior. Orsted said the move allows it to reposition Skipjack Wind for future offtake opportunities.
"Governor Moore is disappointed by the news of Ørsted’s repositioning of the Skipjack Wind project, an effort that has the capacity to impact the lives of so many Marylanders," Carter Elliott, a spokesperson for Democratic Maryland Gov. Wes Moore, told...
(Excerpt) Read more at msn.com ...
Contract was easy to get out of, were they paid money for it?
“Today’s announcement affirms our commitment to developing value creating projects
We sell to chemical manufacturers and business flat out sucks… every time I hear these evil pricks say the economy is great …I have to be honest…it sets me off in a tirade.
A little less Chinese steel scattered on the ocean floor is probably a good thing.
A little less Chinese steel scattered on the ocean floor is probably a good thing.
>>>Some rare good news for my state.
Green businesses exist to suck millions out of the public treasury, then file bankruptcy. It’s the Solyndra business model.
Th3 left scream and wail about oil rigs leaking fluid into the oceans, but are silent when confronted with the fact that wind mills fail and leak fluid all the time. I guess the toxic fluid from windmills doesn’t count to them
If some state or locality wants to “decarbonize”, then nuclear is the way to go.
https://www.energy.gov/ne/advanced-small-modular-reactors-smrs
https://www.nuscalepower.com/en
https://www.rolls-royce.com/innovation/small-modular-reactors.aspx#/
https://www.gevernova.com/nuclear/carbon-free-power/bwrx-300-small-modular-reactor
https://www.westinghousenuclear.com/energy-systems/ap300-smr
Not your grandfather’s huge site-constructed behemoths with cooling towers and storage for “spent” uranium fuel rods. This is truly 21st Century innovation and advancement.
And there is more down the road with Thorium-fueled liquid salt reactors, which uses a much more plentiful fuel than enriched uranium, and leaves very little residual radioactivity.
So Orsted wants to back out of a wonderful, beautiful plan to turn Maryland green. The solution is obvious. The FBI should raid Orsted’s offices.
Oh, and find some woman to sue Orsted‘s CEO for some made-up crime.
All of these problems were created by the Left.
Music to my ears.
Death traps for birds, inefficient, disposal issues, the redundancy required imposes costs, whale and human health effects, community eyesores, limited life span to amortize costs, lowers property values.
What’s not to love?
Yep. It’s exciting to see another failure for Maryland democrats.
“Green businesses exist to suck millions out of the public treasury, then file bankruptcy. It’s the Solyndra business model.”
True, but their main purpose is to BUY TIME in order to get coal and other reliable means of power generation SHUT DOWN and then DISMANTLED, no different than using EVs to end automobile travel.
The ‘success’ or failure of Green projects really doesn’t matter, as their purpose is to make politicians, and the public, docile for the time needed, to end their way of life in the West.
I have a less than stellar earlier life, so I can think like these people - and that is EXACTLY what they’re up to.
Yah, everything has to be paid for, despite what that silly TWOT Greta whinges on about. Even non-profits have to have revenue.
Her parents must be morons to have raised such an idiot.
Hopefully these specific projects will be canceled before all the migratory fowl are made extinct.
Needs higher subsidies, the numbers didn’t work after construction cost inflation.
They saw a pot of gold, then the legislature and unions loaded up prevailing wage, project labor agreements, and all sorts of other extra costs.
Killing whales didn’t stop it.
Killing dolphins didn’t stop it.
Higher interest rates and increased costs killed it.
Whales and dolphins celebrate.
“I guess the toxic fluid from windmills doesn’t count to them”
Dead Bald Eagles, Hawks and what not bird species as well. It just seems to roll off Libertards backs. Their hypocrisy knows no bounds.
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