What Ails Offshore Wind: Supply Chains, Ships and Interest Rates

IVAN PENN, STANLEY REED and BRAD PLUMER – A few years ago, interest in offshore wind energy was so strong that developers proposed spending tens of billions of dollars to plunk hundreds of turbines the size of skyscrapers in the Atlantic Ocean from Maine to Virginia. But several of those projects have recently hit the skids after executives miscalculated the impact that the pandemic and rising interest rates would have on supply chains …