New York State will ditch most of its offshore wind projects as the climate change hoax becomes more apparent.
Somehow, these wind projects were expected to bring the state to 70% renewable energy by 2030.
The canceled projects represent two-thirds of New York’s wind projects. The sector is struggling.
It’s also another Biden failure. He’s always wrong on every issue.
New York won’t allow fracking of its valuable natural gas, so Pennsylvania siphons it out of the ground.
Politico reported that the cancellation was caused by “technical and commercial complexities between provisional awardees and their partners.” BloombergNEF reported a 60 percent increase in offshore wind project costs from 2021 to 2024, attributing it mostly to rising interest rates. Technical issues likely mean they can’t build the windmills cheap enough to turn a profit.
As of now, only two projects are proceeding in New York. The Empire Wind 1 (810 MW) and Sunrise Wind (880 MW) will proceed. Additionally, the state recently celebrated the completion of South Fork Wind. It is New York’s first offshore wind project with a capacity of 130 MW.
Seeking Alpha:
The New York State Energy Research and Development Authority said it failed to come to terms with the three projects after a decision by GE Vernova (NYSE:GEV) to abandon plans for a new 18 MW turbine in favor of smaller turbines.
The change meant the project developers would have needed to install more turbines to supply the electricity they had promised. That would have raised project costs.
The projects affected include Attentive Energy One, developed by TotalEnergies (TTE); Rise Light & Power and Corio Generation, Community Offshore Wind, backed by RWE (OTCPK:RWEOY) and National Grid Ventures; and Excelsior Wind, being developed by Vineyard Offshore.
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According to the U.S. Energy Information Administration, the average U.S. home uses 893 kilowatt-hours (kWh) of electricity per month. Per the U.S. Wind Turbine Database, the mean capacity of wind turbines that achieved commercial operations in 2020 is 2.75 megawatts (MW). At a 42% capacity factor (i.e., the average among recently built wind turbines in the United States, per the 2021 edition of the U.S. Department of Energy’s Land-Based Wind Market Report), that average turbine would generate over 843,000 kWh per month—enough for more than 940 average U.S. homes. To put it another way, the average wind turbine that came online in 2020 generates enough electricity in just 46 minutes to power an average U.S. home for one month.