Orsted

[Ladder]

Offshore wind in the US has been a financial disaster for them.

Ørsted Takes EUR 4 Billion Impairment Hit

[PhillyD]

Ørsted shares tumble after company ditches two US wind projects

[Ladder]

On the 17th of January 2023 their share price was 704.6 DKK (99.4 USD), today it is 252.5 DKK (35.6 USD), a drop of 64.2%.

[ombugge]

Ørsted is pulling out of two projects, but not leaving US Wind altogether:

Ørsted ceases development of two US offshore wind projects, takes FID for...

“We are extremely disappointed to announce that we are ceasing the development of Ocean Wind 1 and 2. However, the significant adverse developments from supply chain challenges, leading to delays in the project schedule, and rising interest rates have led us to this decision, and we will now assess the best way to preserve value while we cease the development of the projects. At the same time, with attractive forward-looking value creation, we progress the Revolution Wind project into the construction phase,” Mads Nipper, Ørsted president and CEO, said.

[Ladder]

Ørsted's US, Taiwan Offshore Wind Projects Hit by Vessel Shortages; Sunrise...

[shipengr]

some of the main issues leading to the decision to abandon the project being supply chain bottlenecks, primarily vessel shortages.

Did they really not consider the number of vessels needed and or available for their own project?

[LI_Domer]

I think they thought they could bully regulators into letting them use any vessel they want, and garuntee maximum ROI with grants, tax waivers, other benefits, etc.

[SeaEagle]

Agree Domer.

[Bruce1]

Executive Reporter September /October 2023 page 20 “Blowin in the Wind” by G Allen Brooks has the latest information on the wind energy debacle which I have alluded to since its attempted inception.
Poorly planned effort by ignorant bureaucratic
it is hoped that those knuckle draggers who cannot disseminate information on their own will benefit from its reading

[Bruce1]

The Magazine is the Maritime Executive Sorry for the mistake.

[ccairoli]

again, maybe try to post article from a less obviously biased source.

[Bruce1]

I reviewed the data myself and came up with my opinion.
that being not satifactory to you I come up with an articule that draws the same conclusion as mine.

now you say he is a Biased Source.

what more can you possibly want. you dont see and wind mills do you?
you dont see any shore shovel ready projects relative to the wind farms on shore do you?

SO, you can just sit there and brood over the debacle that you deny is happening

[ombugge]

What is the difference between placing wind turbines onshore and offshore?:

Onshore and Offshore Wind Resources and Operating Conditions in the Eastern U.S.

Worldwide limitations:
Offshore wind is more consistent, has no obstructions like buildings and hills etc. No height restrictions and less NIMBYs. Thus higher capacity turbines can be installed.

Onshore wind is weaker, less consistent and may be obstructed by terrain, or buildings. More regulations and NIMBYs. Height restrict limit the capacity per turbine installed.

[Ladder]

Offshore wind is a lot more expensive to maintain.

Over the lifetime of a wind farm onshore wind farms have far cheaper O&M costs.

[SeaEagle]

Can’t agree more,

[ombugge]

@Ladder

Over the lifetime of a wind farm onshore wind farms have far cheaper O&M costs.

Is that so based on mW installed capacity?