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ENERGY
What Ails Offshore Wind: Supply Chains, Ships and Interest Rates
Government officials and energy developers misjudged the difficulty of building huge clean energy projects in the United States, which has built very few of them.
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 …
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