Consider This from NPR A Second Wind For Wind Power?
Feb 19, 2024
David Borax, a freelance reporter and offshore wind expert from North Carolina, discusses New Jersey's ambitious shift to renewable energy through offshore wind projects. He highlights the recent challenges faced by the state, including Orsted's contract cancellations and financial setbacks. Despite these hurdles, New Jersey's commitment remains strong, with new contracts on the horizon. Borax also emphasizes the critical role of offshore wind in tackling climate change and the need for cautious optimism as the industry navigates evolving market conditions.
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Orsted's Withdrawal
- New Jersey Governor Phil Murphy partnered with Orsted to build two offshore wind farms, Ocean Wind 1 and 2.
- Orsted later canceled the contracts due to financial challenges, but Murphy remains committed to offshore wind.
Importance of Offshore Wind
- Offshore wind energy is crucial for achieving climate targets, especially in areas unsuitable for large solar/wind farms.
- The US, being behind in offshore wind, needs it as part of a diverse energy portfolio.
Reasons for Cancellations
- Project cancellations in Massachusetts stemmed from original contract prices being too low for companies to profit.
- Orsted's New Jersey cancellation was more complex, involving rising costs, supply chain issues, and lack of specialized ships.