Articles from IBEW News

Facing A Hostile Administration, US Offshore Wind Is in Retreat

US offshore wind faces a 56% decrease in development by 2035 with $114 billion in investments canceled or delayed due to administration policies including a temporary leasing moratorium, 50% tariffs on turbine parts, and early termination of tax credits. Only seven wind farms remain operational or under construction on the East Coast, far short of the Biden administration's original goals. Source: e360.yale.edu

JERA Nex BP to Withdraw from Market, Halt Beacon Wind Investment

BP and JERA's joint venture JERA Nex BP is withdrawing from the US offshore wind market and halting investment in the Beacon Wind project off Massachusetts, citing unfavorable market conditions. All US-based team members will be laid off in coming months, though the company will maintain the Beacon lease for potential future development. Source: offshorewind.biz

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