Klaus Vedfelt
Equinor (NYSE:EQNR) and BP (NYSE:BP) said Wednesday they terminated their agreement to sell power to New York state from their Empire Wind 2 offshore wind project, citing “commercial conditions driven by inflation, interest rates and supply chain disruptions,” in the latest blow to the struggling U.S. wind industry.
The move “reflects changed economic circumstances on an industry-wide scale and repositions an already mature project to continue development in anticipation of new offtake opportunities,” Equinor (EQNR) said, referring to a new offshore wind solicitation launched by New York in November.
The total Empire Wind offshore wind project was envisioned to include two offshore wind farms, the 816 MW Empire Wind 1 and the 1,260 MW Empire Wind 2, located 12 miles south of Long Island.
Separately, Copenhagen Infrastructure Partners and Avangrid (AGR) said Wednesday their Vineyard Wind joint venture project began generating power for the first time, supplying 5 MW to the New England grid.