Posted on 10/14/2023 4:59:21 PM PDT by SeekAndFind
The New York state authorities have rejected a request by Orsted, BP, and Equinor for raising the price of electricity in future power purchase contracts featuring offshore wind energy.
Offshore wind developers have been pressured by rising raw material and component costs, and higher borrowing costs, which has cast doubt over the viability of many projects. Indeed, Reuters reported that some projects planned for the waters off the coast of New York may need to be reconsidered in light of the authorities’ decision.
"Sunrise Wind's viability and therefore ability to be constructed are extremely challenged without this adjustment," Orsted told Reuters.
Sunrise Wind is an offshore project with a planned capacity of 924 MW that could supply electricity to 600,000 households. According to Orsted, it would also involve several hundred million dollars in investments in the state and 800 jobs.
"These projects must be financially sustainable to proceed," the president of Equinor Renewables Americas told Reuters, referring to the offshore wind projects the Norwegian energy major is leading in the U.S.
Per Reuters, Equinor is involved in three projects with BP—the 816 MW Empire Wind 1 and the 1.26 GW Empire Wind 2, as well as the Beacon Wind farm, with a projected capacity of 1.23 GW.
Indeed, rising costs have compromised the financial sustainability of many wind power projects and earlier this year led to the cancellation of a large-scale one off the coast of the UK.
Swedish Vattenfall, which led the Norfolk Boreas project, said it would quit it after it saw costs rise by 40%, which made the project unviable.
(Excerpt) Read more at oilprice.com ...
“924 MW”
That is ONE nuclear or coal generating UNIT. A power plant often has three or four such units for a total of 3,000 to 4,000 MW. In a footprint 3% of the wind footprint. And terrestrial power can be dispatched when needed (i.e., ramped up and down) and doesn’t kill whales or raptors.
If you go nuclear, you cant have African kids mining for cobalt.
“800 jobs”
You get LOTS of jobs when things are unreliable and break all the time.
Our people in power are idiots.
We can put ‘em to work mining uranium, instead.
Right. I wouldnt want to make them unemployed.
Thanks for the info on MW’s and crunching numbers. They’re trying to do that out here in NorCal.
Yes. It is an unbelievably dense mixture of '60s and '70s "activists," their indoctrinated and Ritalined kids, and their Ativaned and dumbed-down grandkids, all working for an outmoded "agenda" which is pretty much contained in a week of 1971 All in the Family reruns.
America has never faced a more idiotic and yet dangerous threat. If the Leftist bought-and-paid-for media didn't keep propping these people up, they'd be only a minor irritant in the lives of the rest of us.
All of the birds thank them.
Never watched.....well I say never....I did a couple times... And never did again.
America has never faced a more idiotic and yet dangerous threat. If the Leftist bought-and-paid-for media didn't keep propping these people up, they'd be only a minor irritant in the lives of the rest of us.
It's an embarrassment....And I know people and co=workers that ARE CLUELESS.
Did you know....the Osage Tribe has some exemption...to how many Bald Eagles they can kill.????? Dead eagles for $$$$$
I live in Osage Co. and I have seen Bald Eagles up close.
You are right
That’s little more than one lighting strike, which as we all know is 1.21 GW of power.
Cheap renewals are expensive!
That 924mw is capacity.
They’d be lucky if they could get a third of that in actual production, And that production would be random, not when you need it.
It’s a total fiasco.
“Our people in power are idiots.”
I think you meant to say, “the people that choose who to put in power are idiots”
No arguments there.
I was thinking the other day about Rockefeller and Standard Oil Company. Before petroleum and electricity, wasn’t there a huge business in whale oil? Just how many millions of whales did Rockefeller and others save developing petroleum?
Now, only with subsidies, do wind power companies build massive Cuisinarts that destroy thousands of birds.
Yep. Good point. The 924 is nameplate rating. Wind turbines have a typical capacity factor of about 28%, slightly higher for offshore. The CF for big baseload and nuclear units is 70% to 80%.
So you need to build about 3X more capacity to get the same energy out over a year’s time.
Of course, you can’t tolerate not having energy, so every MW of wind has to be backed up by a MW from fossil or nuclear. At least until we have viable utility-scale storage which is a technical impossibility.
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