U.S. Offshore Wind: GE Vernova’s Big Problems

“European energy companies Orsted, Equinor and BP have taken a combined $5 billion of writedowns on U.S. offshore wind projects that are mostly in development, in part because their existing power sales contracts would not cover the cost of building and financing the projects.” (- Reuters, below)

Facing a series of costly physical problems and a becalmed market, GE Vernova, the largest offshore wind turbine developer in the U.S., has informed European authorities that it plans to lay off up to 900 workers around the world as it scales back its offshore business. The Maritime Executive reported that the General Electric wind development spinoff notified the European Works Council for France of its planned downsizing.

Under EU law, member states have established councils to “facilitate the information and consultation of employees with a focus on transnational issues….”…

The Department of Interior (Project 2025)

The Heritage Foundation’s 922-page Mandate for Leadership: The Conservative Promise (Project 2025: Presidential Transition Project) prominently includes political prescription for various energy and environmental reforms in the U.S. Department of Energy, Department of Interior, and Environmental Protection Agency.

While Donald Trump has tried to distance himself from the document, it is virtually certain that if elected, he would move swiftly to try to implement the blueprint. Many of its authors were his appointees in his administration and likely would lead his government beginning in 2025.

The Heritage project for the Interior Department programs and policies is back to the future. Essentially, the chapter wants to erase the Biden administration’s policies and actions, many of which replaced Trump administration policies.

After describing the roles of the far-reaching agency, the chapter lays out its goal:

Given the dire adverse national impact of Biden’s war on fossil fuels, no other initiative is as important for the DOI under a conservative President than the restoration of the department’s historic role managing the nation’s vast storehouse of hydrocarbons, much of which is yet to be discovered.

U.S. Offshore Wind: The Struggle Continues

This post updates the financial troubles of Denmark’s Ørsted, recent BOEM auctions, and pushback against Maryland governor Wes Moore. Today, operational offshore wind capacity is less than 50 megawatts versus the Biden-Harris Administration goal of 30,000 MW by 2030.

Ørsted

Denmark’s Ørsted, the worldwide leading offshore wind developer, recorded a $575 million loss in the second quarter. In part, the loss is the result of disappointing developments in the U.S.

The company has delayed commercial operation of its 704-MW Revolution Wind project off the coast of Rhode Island and Connecticut from 2025 to 2026. Ørsted’s ambitious U.S. offshore wind program has been lagging, despite solid support (subsidies, permits) from the Biden administration.

A year after an Interior Department’s Bureau of Ocean Energy Management (BOEM) auction for Gulf of Mexico leases failed to attract significant interest, BOEM continues to delay another attempt to find adequate bidders off the east coast.…

Nuclear Fusion: More Government Fail

Nuclear Subsidies Galore …

Nuclear News …. Little Good

‘Zero Emission’ Truck Fraud: Candid Camera Meets Nikola (Trevon Milton to the Slammer?)

More SMR Woes: Oklo/Air-Force Cancellation

NuScale: Small Reactors, Big Legal Problems

Nuclear Go-Round: NuScale, Vogtle, Palisades