Rough seas ahead as multiple offshore wind power purchase agreements are scrapped
Economic uncertainties have resulted in multiple offshore wind PPAs to come to an end, with both developers and utilities deciding to back out.| Factor This™
Economic uncertainties have resulted in multiple offshore wind PPAs to come to an end, with both developers and utilities deciding to back out.| Factor This™
Avangrid has cited economic conditions such as supply chain disruptions, inflation, rising interest rates and cost increases for offshore wind equipment.| Factor This™
Developers who filed the petition, including subsidiaries of Orsted, Equinor, and bp, said they will review the decision before reassessing their projects.| Factor This™
The petitions sought new agreements, citing supply chain bottlenecks, high inflation, and increases in the cost of capital, driven by rising interest rates.| Factor This™
