REUTERS
"Wind power giants find little shelter from sector troubles"
By Christoph Steitz, Stine Jacobsen and Jacob Gronholt-pedersen
February 7, 2024
Summary
* Siemens Energy, Vestas, Orsted report results
* Results reflect problems in maturing wind sector
* Orsted cuts jobs, Vestas scraps 2023 dividend
FRANKFURT/COPENHAGEN, Feb 7 (Reuters) - The world's three biggest wind power groups - Siemens Energy, Orsted and Vestas - on Wednesday gave a sober view of the year ahead for an industry buffeted by project delays, equipment problems and inflation.
Siemens Energy, the world's largest maker of offshore wind turbines, expects a 2024 loss before special items of around 2 billion euros ($2.2 billion) at Siemens Gamesa.
The wind division has had to deal with the cost of addressing quality problems affecting some onshore models.
Siemens Energy CEO Christian Bruch said the overall energy sector had strong fundamentals, but "one still has to note that ... the speed at which grids and renewables are expanding is still not sufficient".
He said the current expansion, most of which is happening in China, put the world on track to increase global renewable capacity two-and-a-half-fold by 2030, below the three-fold target agreed at last year's COP28 climate summit in Dubai.
In addition, rising prices for raw materials and components as well as regulatory delays have caused writedowns and losses across the wind industry despite robust demand for renewable technology.
Turbine makers have been particularly hit.
"You see the terms and conditions of the projects being too difficult for investors and project developers to take."
"So we are in a standstill," said Danny van Doesburg, senior portfolio manager at Dutch APG Asset Management, which according to LSEG data owns stakes in Vestas, Orsted and Siemens Energy.
"The market is not functioning anymore," he added, calling for a stronger role for governments to help deliver a functioning market model that distributes profits throughout the value chain.
'NO FREE GIFTS'
Anders Schelde, chief investment officer at Danish fund Akademikerpension, also said market conditions in offshore wind needed to be reset to make the sector profitable again.
Vestas, the world's top maker of wind turbines, swung to a fourth-quarter profit, but said it would not pay a dividend for 2023, and its CEO Henrik Andersen said challenges would continue to weigh on the sector this year.
"We love our clients ... but none of our shareholder wants us to hand out free gifts," he told Reuters, adding the company was working closely with developers and governments to ensure a fair split.
Shares in Siemens Energy and Vestas were up 1.3% and 6.7% respectively, while those in Orsted, the world's biggest offshore wind project developer, fell 1.8% in the wake of its capital markets day.
Orsted announced a portfolio review as well as job cuts following major writedowns on delayed U.S. projects.
The Danish group said it aimed to reduce fixed costs by 1 billion Danish crowns ($144 million) by 2026, which would include 600-800 job cuts globally, flagging around 250 redundancies in 2024 as part of the review.
"In order to improve our competitiveness, ensure value creation, and ensure our ability to attract capital to the renewable build-out, we will make Orsted a leaner and more efficient company," CEO Mads Nipper said.
Norwegian oil and gas group Equinor said it remained committed to offshore wind and other renewables despite lower returns, in line with its long-term plan to diversify its income.
Reporting by Christoph Steitz, Stine Jacobsen and Jacob Gronholt-Pedersen; Editing by Jason Neely, Mark Potter and Barbara Lewis
https://www.reuters.com/business/energy ... 024-02-07/
WINDMILLS AND SOLAR FARMS
Re: WINDMILLS AND SOLAR FARMS
RIGZONE
"US DOE Earmarks $366MM for Clean Energy Deployment in Remote Areas"
by Paul Anderson |Rigzone Staff
Tuesday, March 05, 2024
The United States Department of Energy (DOE) has set aside $366 million to aid 17 projects across 20 states and 30 tribal nations and communities to accelerate clean energy deployment in rural and remote areas across the country.
The DOE said in a media release the funding, provided for by the Bipartisan Infrastructure Law, will support a variety of community-driven energy projects in rural and remote regions, such as building microgrids for community health centers to ensure electricity for critical life-saving equipment or constructing a new hydroelectric facility on tribal lands.
“Thanks to the President's Investing in America agenda, DOE is helping revitalize communities across America — ensuring thriving businesses, reliable access to clean energy, and exciting new economic opportunities, now and for generations to come", Secretary of Energy Jennifer M. Granholm said in a statement.
The DOE said rural and remote communities face a unique set of energy challenges due to their smaller populations and isolation from larger electrical systems, including higher electric bills, unreliable energy supplies and no access to electricity at all.
A 2023 report by the DOE’s Office of Indian Energy shows that 21 percent of Navajo Nation homes and 35 percent of Hopi Indian Tribe homes remain unelectrified.
Of the electrified homes in tribal communities, 31 percent reported monthly outages, the DOE said.
Of the nation’s 350 persistently poor counties, 300 are rural, it noted.
The 17 projects are part of DOE’s Energy Improvements in Rural or Remote Areas (ERA) program, which is managed by the DOE Office of Clean Energy Demonstrations (OCED).
The ERA program leverages DOE’s expertise in resilient energy solutions while recognizing the unique environmental, cultural, and economic landscapes of rural and remote communities, the department said.
The DOE said that the selected projects cover a range of clean energy technologies, from solar, battery storage systems, and microgrids to hydropower, heat pumps, biomass, and electric vehicle charging infrastructure.
At least 12 projects will support tribal communities, such as the Navajo and Hopi nations, who plan to install solar and battery energy storage systems to provide electricity for 300 homes.
Another project expects its proposed tribal clean energy projects to save each Taos Pueblo household in its service area $700 per year, highlighting the cost-savings benefits that come with the transition to a clean energy future, the DOE said.
To contact the author, email andreson.n.paul@gmail.com
https://www.rigzone.com/news/wire/us_do ... 0-article/
"US DOE Earmarks $366MM for Clean Energy Deployment in Remote Areas"
by Paul Anderson |Rigzone Staff
Tuesday, March 05, 2024
The United States Department of Energy (DOE) has set aside $366 million to aid 17 projects across 20 states and 30 tribal nations and communities to accelerate clean energy deployment in rural and remote areas across the country.
The DOE said in a media release the funding, provided for by the Bipartisan Infrastructure Law, will support a variety of community-driven energy projects in rural and remote regions, such as building microgrids for community health centers to ensure electricity for critical life-saving equipment or constructing a new hydroelectric facility on tribal lands.
“Thanks to the President's Investing in America agenda, DOE is helping revitalize communities across America — ensuring thriving businesses, reliable access to clean energy, and exciting new economic opportunities, now and for generations to come", Secretary of Energy Jennifer M. Granholm said in a statement.
The DOE said rural and remote communities face a unique set of energy challenges due to their smaller populations and isolation from larger electrical systems, including higher electric bills, unreliable energy supplies and no access to electricity at all.
A 2023 report by the DOE’s Office of Indian Energy shows that 21 percent of Navajo Nation homes and 35 percent of Hopi Indian Tribe homes remain unelectrified.
Of the electrified homes in tribal communities, 31 percent reported monthly outages, the DOE said.
Of the nation’s 350 persistently poor counties, 300 are rural, it noted.
The 17 projects are part of DOE’s Energy Improvements in Rural or Remote Areas (ERA) program, which is managed by the DOE Office of Clean Energy Demonstrations (OCED).
The ERA program leverages DOE’s expertise in resilient energy solutions while recognizing the unique environmental, cultural, and economic landscapes of rural and remote communities, the department said.
The DOE said that the selected projects cover a range of clean energy technologies, from solar, battery storage systems, and microgrids to hydropower, heat pumps, biomass, and electric vehicle charging infrastructure.
At least 12 projects will support tribal communities, such as the Navajo and Hopi nations, who plan to install solar and battery energy storage systems to provide electricity for 300 homes.
Another project expects its proposed tribal clean energy projects to save each Taos Pueblo household in its service area $700 per year, highlighting the cost-savings benefits that come with the transition to a clean energy future, the DOE said.
To contact the author, email andreson.n.paul@gmail.com
https://www.rigzone.com/news/wire/us_do ... 0-article/
Re: WINDMILLS AND SOLAR FARMS
REUTERS
"US solar factories strike deal to produce 'Made in USA' panels"
By Nichola Groom
March 27, 2024
March 27 (Reuters) - Two small solar manufacturers on Wednesday said they are joining forces to make panels that will enable their customers, U.S. solar project developers, to collect on a lucrative new federal subsidy for American-made clean energy equipment.
The agreement between Georgia-based solar cell producer Suniva and Canada's Heliene, which has panel-making operations in Minnesota, is being touted by the Biden administration as evidence that Inflation Reduction Act (IRA) subsidies are succeeding in building a domestic solar manufacturing industry to compete with China.
"Before this Administration, solar companies across the United States were struggling," Treasury Secretary Janet Yellen, who will visit Suniva's Norcross, Georgia, facility later on Wednesday, said in a statement provided to Reuters.
She noted that 20% of U.S. solar manufacturing jobs were lost between 2016 and 2020.
Suniva itself is restarting an idled factory.
"Now, though there remain significant challenges, Inflation Reduction Act tax credits are helping change the game," Yellen added.
Under the three-year, $400 million deal, Suniva will supply cells to Heliene, which will assemble them into panels.
The products will be able to supply about 2 gigawatts of solar projects, according to Suniva.
That would be enough capacity to power about 350,000 homes.
Solar project builders that use panels containing American-made cells will be able to claim a 10% tax credit for using domestic content, according to Treasury Department rules unveiled nearly a year ago.
That bonus credit, created in the 2022 IRA, has been regarded by developers as elusive because there is no current U.S. supply of silicon-based solar cells, the predominant industry technology.
Some solar manufacturers have lobbied for more stringent domestic content rules to counter a flood of Chinese-made products in the global market.
"This contract is a testament to the effectiveness of the Inflation Reduction Act and Treasury's May 2023 domestic content guidance," Suniva CEO Cristiano Amoruso said in a statement.
"We are proud to fulfill our long-standing promise to bring back cell manufacturing to the United States at our Norcross facility."
The domestic content bonus credit is in addition to a 30% IRA tax credit for renewable energy facilities.
Reporting by Nichola Groom Editing by Bill Berkrot
https://www.reuters.com/business/energy ... 024-03-27/
"US solar factories strike deal to produce 'Made in USA' panels"
By Nichola Groom
March 27, 2024
March 27 (Reuters) - Two small solar manufacturers on Wednesday said they are joining forces to make panels that will enable their customers, U.S. solar project developers, to collect on a lucrative new federal subsidy for American-made clean energy equipment.
The agreement between Georgia-based solar cell producer Suniva and Canada's Heliene, which has panel-making operations in Minnesota, is being touted by the Biden administration as evidence that Inflation Reduction Act (IRA) subsidies are succeeding in building a domestic solar manufacturing industry to compete with China.
"Before this Administration, solar companies across the United States were struggling," Treasury Secretary Janet Yellen, who will visit Suniva's Norcross, Georgia, facility later on Wednesday, said in a statement provided to Reuters.
She noted that 20% of U.S. solar manufacturing jobs were lost between 2016 and 2020.
Suniva itself is restarting an idled factory.
"Now, though there remain significant challenges, Inflation Reduction Act tax credits are helping change the game," Yellen added.
Under the three-year, $400 million deal, Suniva will supply cells to Heliene, which will assemble them into panels.
The products will be able to supply about 2 gigawatts of solar projects, according to Suniva.
That would be enough capacity to power about 350,000 homes.
Solar project builders that use panels containing American-made cells will be able to claim a 10% tax credit for using domestic content, according to Treasury Department rules unveiled nearly a year ago.
That bonus credit, created in the 2022 IRA, has been regarded by developers as elusive because there is no current U.S. supply of silicon-based solar cells, the predominant industry technology.
Some solar manufacturers have lobbied for more stringent domestic content rules to counter a flood of Chinese-made products in the global market.
"This contract is a testament to the effectiveness of the Inflation Reduction Act and Treasury's May 2023 domestic content guidance," Suniva CEO Cristiano Amoruso said in a statement.
"We are proud to fulfill our long-standing promise to bring back cell manufacturing to the United States at our Norcross facility."
The domestic content bonus credit is in addition to a 30% IRA tax credit for renewable energy facilities.
Reporting by Nichola Groom Editing by Bill Berkrot
https://www.reuters.com/business/energy ... 024-03-27/
Re: WINDMILLS AND SOLAR FARMS
REUTERS
"Biden administration approves eighth US offshore wind project"
By Valerie Volcovici
April 2, 2024
WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.
WHY IT IS IMPORTANT
The New England Wind Project approval brings the U.S. one-third of the way to President Joe Biden's goal of permitting 30 gigawatts of offshore wind capacity by 2030 - a key part of the president's climate change agenda.
CONTEXT
The project comes just a week after the Interior Department approved another offshore wind project in New York.
The approvals this year follow a series of attempts by companies including Equinor, BP, Avangrid and Shell to cancel or seek to renegotiate power contracts for commercial-scale U.S. wind farms due to supply chain concerns and high materials costs.
KEY QUOTE
“The Biden-Harris administration has built an offshore wind industry from the ground up after years of delay from the previous administration," said Interior Secretary Deb Haaland.
THE DETAILS
The New England Wind project, located around 20 nautical miles south of the Massachusetts island of Martha's Vineyard, is expected to generate up to 2,600 megawatts of electricity.
Reporting by Valerie Volcovici; Editing by David Gregorio
https://www.reuters.com/business/energy ... 024-04-02/
"Biden administration approves eighth US offshore wind project"
By Valerie Volcovici
April 2, 2024
WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.
WHY IT IS IMPORTANT
The New England Wind Project approval brings the U.S. one-third of the way to President Joe Biden's goal of permitting 30 gigawatts of offshore wind capacity by 2030 - a key part of the president's climate change agenda.
CONTEXT
The project comes just a week after the Interior Department approved another offshore wind project in New York.
The approvals this year follow a series of attempts by companies including Equinor, BP, Avangrid and Shell to cancel or seek to renegotiate power contracts for commercial-scale U.S. wind farms due to supply chain concerns and high materials costs.
KEY QUOTE
“The Biden-Harris administration has built an offshore wind industry from the ground up after years of delay from the previous administration," said Interior Secretary Deb Haaland.
THE DETAILS
The New England Wind project, located around 20 nautical miles south of the Massachusetts island of Martha's Vineyard, is expected to generate up to 2,600 megawatts of electricity.
Reporting by Valerie Volcovici; Editing by David Gregorio
https://www.reuters.com/business/energy ... 024-04-02/
Re: WINDMILLS AND SOLAR FARMS
REUTERS
"Exclusive: US plans to restore tariffs on dominant solar technology, sources say"
By Nichola Groom and Jarrett Renshaw
April 17, 2024
April 17 (Reuters) - The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans said on Wednesday.
The news sent shares of solar manufacturers including U.S.-based First Solar higher in afternoon trade.
The Qcells request, which has not previously been reported, comes as the company is seeking to protect a pledged $2.5 billion expansion of its U.S. solar manufacturing presence against competition from cheaper Asian-made products.
The solar division of Korean conglomerate Hanwha Corp outlined the request in a formal petition to the U.S. Trade Representative on Feb. 23.
It included letters of support from seven other companies with billions of dollars combined invested in U.S. solar factories.
No decision has been made on the timeline of the expected reversal, the sources said.
Duties on imports of bifacial panels, the main technology in utility-scale solar projects, would be a boon to the more than 40 solar equipment factories planned since U.S. President Joe Biden signed his landmark climate change law, the Inflation Reduction Act, in 2022.
Those plants are critical to Biden's plan to fight climate change, revitalize American manufacturing and create millions of union jobs.
Past trade remedies have sharply divided the U.S. solar industry, which is dominated by installers and developers who rely on cheap imports to keep their project costs low.
The top U.S. solar trade group, the Solar Energy Industries Association (SEIA), lobbied for the bifacial exemption.
In a statement, SEIA did not address the exemption directly but advocated for an increase in the amount of solar cells that can be imported tariff-free to help companies assembling American-made panels.
"We hope the Administration is prepared to directly support increased domestic manufacturing of solar modules by raising the tariff rate quota on cells," said Stacy Ettinger, SEIA's senior vice president of supply chain and trade.
Biden administration officials, including Treasury Secretary Janet Yellen and U.S. Trade Representative Katherine Tai, in recent weeks have said the U.S. is evaluating trade remedies to deal with threats posed by China's massive investment in factory capacity for clean energy goods.
The solar panel issue goes to the core of one of Biden’s arguments for re-election: that his economic policies have begun transforming the U.S. energy economy while combating climate change.
However, the pace of growth in the domestic solar panel manufacturing market has been cast into doubt by surging imports of cheap, Chinese panels.
A bipartisan group of U.S. senators, led by the two Democrats from the critical election battleground state of Georgia, asked Biden earlier this year to toughen up tariffs on Chinese solar panels or face a glutted market just as clean-energy tax credits hit the market.
Qcells, which has two factories in Georgia, is the largest U.S. producer of silicon-based solar products.
In its petition, a copy of which was seen by Reuters, the company asked Biden to revoke an exemption of so-called bifacial panels from duties first imposed by Republican former President Donald Trump in 2018 and extended by Biden, a Democrat, in 2022.
The tariffs on imported modules started at 30% and currently stand at 14.25%.
They are due to expire in 2026.
'A LEVEL PLAYING FIELD'
Most panel imports come from Southeast Asia but are made by Chinese companies there.
The U.S. imposed duties on some panel makers for finishing their products in Cambodia, Malaysia, Thailand and Vietnam to avoid tariffs on Chinese-made goods.
Biden waived those tariffs nearly two years ago, a policy that the White House said it will allow to expire in June.
"We're continuing to look at all of our options to ensure that the historic investments spurred by the Inflation Reduction Act are successful," a White House official said.
"Our companies and workers can compete with anyone, but they need a level playing field."
Bifacial panels can generate electricity on both sides.
The technology was nascent when the tariffs were first imposed but now accounts for 98% of imported modules, according to the petition.
The action is needed, Qcells said in the petition, to preserve the many plans for new U.S. solar manufacturing capacity that have been unleashed by incentives contained in the IRA.
"Despite these positive trends, there is growing evidence that negative market conditions caused by surging imports of bifacial modules are causing several companies to rethink their plans to invest in the U.S.," the petition said.
Qcells' request is supported by seven other solar manufacturers with U.S. factories - First Solar, Heliene, Suniva, Silfab, Crossroads Solar, Mission Solar and Auxin Solar - according to the petition documents.
First Solar shares closed nearly 3% higher at $178.01 on the Nasdaq.
Reporting by Nichola Groom and Jarrett Renshaw; editing by Timothy Gardner and Bill Berkrot
https://www.reuters.com/world/us/us-pla ... 024-04-17/
"Exclusive: US plans to restore tariffs on dominant solar technology, sources say"
By Nichola Groom and Jarrett Renshaw
April 17, 2024
April 17 (Reuters) - The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans said on Wednesday.
The news sent shares of solar manufacturers including U.S.-based First Solar higher in afternoon trade.
The Qcells request, which has not previously been reported, comes as the company is seeking to protect a pledged $2.5 billion expansion of its U.S. solar manufacturing presence against competition from cheaper Asian-made products.
The solar division of Korean conglomerate Hanwha Corp outlined the request in a formal petition to the U.S. Trade Representative on Feb. 23.
It included letters of support from seven other companies with billions of dollars combined invested in U.S. solar factories.
No decision has been made on the timeline of the expected reversal, the sources said.
Duties on imports of bifacial panels, the main technology in utility-scale solar projects, would be a boon to the more than 40 solar equipment factories planned since U.S. President Joe Biden signed his landmark climate change law, the Inflation Reduction Act, in 2022.
Those plants are critical to Biden's plan to fight climate change, revitalize American manufacturing and create millions of union jobs.
Past trade remedies have sharply divided the U.S. solar industry, which is dominated by installers and developers who rely on cheap imports to keep their project costs low.
The top U.S. solar trade group, the Solar Energy Industries Association (SEIA), lobbied for the bifacial exemption.
In a statement, SEIA did not address the exemption directly but advocated for an increase in the amount of solar cells that can be imported tariff-free to help companies assembling American-made panels.
"We hope the Administration is prepared to directly support increased domestic manufacturing of solar modules by raising the tariff rate quota on cells," said Stacy Ettinger, SEIA's senior vice president of supply chain and trade.
Biden administration officials, including Treasury Secretary Janet Yellen and U.S. Trade Representative Katherine Tai, in recent weeks have said the U.S. is evaluating trade remedies to deal with threats posed by China's massive investment in factory capacity for clean energy goods.
The solar panel issue goes to the core of one of Biden’s arguments for re-election: that his economic policies have begun transforming the U.S. energy economy while combating climate change.
However, the pace of growth in the domestic solar panel manufacturing market has been cast into doubt by surging imports of cheap, Chinese panels.
A bipartisan group of U.S. senators, led by the two Democrats from the critical election battleground state of Georgia, asked Biden earlier this year to toughen up tariffs on Chinese solar panels or face a glutted market just as clean-energy tax credits hit the market.
Qcells, which has two factories in Georgia, is the largest U.S. producer of silicon-based solar products.
In its petition, a copy of which was seen by Reuters, the company asked Biden to revoke an exemption of so-called bifacial panels from duties first imposed by Republican former President Donald Trump in 2018 and extended by Biden, a Democrat, in 2022.
The tariffs on imported modules started at 30% and currently stand at 14.25%.
They are due to expire in 2026.
'A LEVEL PLAYING FIELD'
Most panel imports come from Southeast Asia but are made by Chinese companies there.
The U.S. imposed duties on some panel makers for finishing their products in Cambodia, Malaysia, Thailand and Vietnam to avoid tariffs on Chinese-made goods.
Biden waived those tariffs nearly two years ago, a policy that the White House said it will allow to expire in June.
"We're continuing to look at all of our options to ensure that the historic investments spurred by the Inflation Reduction Act are successful," a White House official said.
"Our companies and workers can compete with anyone, but they need a level playing field."
Bifacial panels can generate electricity on both sides.
The technology was nascent when the tariffs were first imposed but now accounts for 98% of imported modules, according to the petition.
The action is needed, Qcells said in the petition, to preserve the many plans for new U.S. solar manufacturing capacity that have been unleashed by incentives contained in the IRA.
"Despite these positive trends, there is growing evidence that negative market conditions caused by surging imports of bifacial modules are causing several companies to rethink their plans to invest in the U.S.," the petition said.
Qcells' request is supported by seven other solar manufacturers with U.S. factories - First Solar, Heliene, Suniva, Silfab, Crossroads Solar, Mission Solar and Auxin Solar - according to the petition documents.
First Solar shares closed nearly 3% higher at $178.01 on the Nasdaq.
Reporting by Nichola Groom and Jarrett Renshaw; editing by Timothy Gardner and Bill Berkrot
https://www.reuters.com/world/us/us-pla ... 024-04-17/
Re: WINDMILLS AND SOLAR FARMS
REUTERS
"Solar firm SunPower to cut jobs, wind down most of residential direct sales"
By Reuters
April 24, 2024
April 24 (Reuters) - SunPower plans to reduce its workforce by about 1,000 people in the coming days and weeks and move away from most of its direct sales channel as part of a restructuring plan to lower costs, the solar firm said on Wednesday.
The development comes a day after the company disclosed it identified misstatements in its results for fiscal 2022.
SunPower said it will wind down its SunPower Residential Installation locations and close SunPower Direct sales, adding that installations would be handled by its Blue Raven Solar and independent dealers.
SunPower had acquired Blue Raven for $165 million in 2021.
The company had 586,250 residential customers as of Dec. 31, 2023.
JP Morgan analysts said in a note that the realignment would largely eliminate SunPower's direct sales channel and move the company towards third-party sales.
Companies providing solar power and storage solutions have seen rising inventory levels and metering reforms in California weigh on demand.
The metering reform lowered the tariff residential customers receive from the grid, dampening demand for solar setups.
SunPower, which had 3,800 full-time employees globally prior to the job cut announcement, expects charges of about $28 million related to severance benefits, early contract terminations and certain write-offs.
The steps are being taken to simplify the business structure, transitioning away from areas where the company has been unable to sustain profitable operations, and improving financial controls, SunPower's Principal Executive Officer Tom Werner said in a letter to employees.
Werner, who served as CEO for nearly two decades, was brought back from retirement earlier this year as executive chairman while CEO Peter Faricy left.
Its restructuring plans are likely to be completed by the second quarter.
Shares were down 1.2% in afternoon trade.
Reporting by Mrinalika Roy in Bengaluru, additional reporting by Sourasis Bose and Roshia Sabu; Editing by Shounak Dasgupta and Shailesh Kuber
https://www.reuters.com/business/energy ... 024-04-24/
"Solar firm SunPower to cut jobs, wind down most of residential direct sales"
By Reuters
April 24, 2024
April 24 (Reuters) - SunPower plans to reduce its workforce by about 1,000 people in the coming days and weeks and move away from most of its direct sales channel as part of a restructuring plan to lower costs, the solar firm said on Wednesday.
The development comes a day after the company disclosed it identified misstatements in its results for fiscal 2022.
SunPower said it will wind down its SunPower Residential Installation locations and close SunPower Direct sales, adding that installations would be handled by its Blue Raven Solar and independent dealers.
SunPower had acquired Blue Raven for $165 million in 2021.
The company had 586,250 residential customers as of Dec. 31, 2023.
JP Morgan analysts said in a note that the realignment would largely eliminate SunPower's direct sales channel and move the company towards third-party sales.
Companies providing solar power and storage solutions have seen rising inventory levels and metering reforms in California weigh on demand.
The metering reform lowered the tariff residential customers receive from the grid, dampening demand for solar setups.
SunPower, which had 3,800 full-time employees globally prior to the job cut announcement, expects charges of about $28 million related to severance benefits, early contract terminations and certain write-offs.
The steps are being taken to simplify the business structure, transitioning away from areas where the company has been unable to sustain profitable operations, and improving financial controls, SunPower's Principal Executive Officer Tom Werner said in a letter to employees.
Werner, who served as CEO for nearly two decades, was brought back from retirement earlier this year as executive chairman while CEO Peter Faricy left.
Its restructuring plans are likely to be completed by the second quarter.
Shares were down 1.2% in afternoon trade.
Reporting by Mrinalika Roy in Bengaluru, additional reporting by Sourasis Bose and Roshia Sabu; Editing by Shounak Dasgupta and Shailesh Kuber
https://www.reuters.com/business/energy ... 024-04-24/
Re: WINDMILLS AND SOLAR FARMS
REUTERS
"US plans 12 offshore wind auctions over five years"
By Nichola Groom
April 24, 2024
April 24 (Reuters) - U.S. President Joe Biden's administration unveiled plans on Wednesday to hold up to a dozen auctions of offshore wind development rights through 2028, including four before the end of this year.
The schedule will help companies, states and others plan for projects that require massive amounts of investment and infrastructure, the Interior Department said in a statement.
Interior has held just four offshore wind auctions since Biden took office in 2021.
The last one, in the Gulf of Mexico last August, attracted lackluster industry interest.
The agency will regularly update the schedule under new regulations finalized on Wednesday.
The rules will streamline certain requirements for offshore wind development and cut industry costs by $1.9 billion over the next two decades, Interior said.
"Our offshore wind leasing schedule will provide predictability to help developers and communities plan ahead and will provide the confidence needed to continue building on the tremendous offshore wind supply chain and manufacturing investments that we've already seen," Interior Secretary Deb Haaland said in a statement.
The administration is determined to support the nascent U.S. offshore wind industry at a time when projects have been plagued by rising costs tied to inflation, interest rates and supply chain constraints.
Just this week, New York state stalled three major planned offshore wind farms.
According to Interior's schedule, this year the agency will hold lease sales for areas in the Central Atlantic, Gulf of Maine, Gulf of Mexico and Oregon.
In 2025, it will hold a single sale in the Gulf of Mexico.
In 2026, it will hold an auction in the Central Atlantic.
In 2027, two sales are scheduled - the Gulf of Mexico and New York Bight.
In 2028, Interior aims to hold four auctions - in California, an undetermined U.S. territory, the Gulf of Maine and Hawaii.
The timing of the sales is linked to the administration's five-year schedule to offer acreage to oil and gas companies for offshore development.
A provision in Biden's landmark climate change law, the Inflation Reduction Act, requires that Interior must offer at least 60 million acres (24.3 million hectares) for oil and gas leasing a year before issuing an offshore wind lease.
The U.S. last held an oil and gas auction in December of last year and will not hold another one until 2025 under a scaled back five-year drilling plan finalized last year.
In addition to establishing a leasing schedule, the offshore wind regulations finalized on Wednesday eliminate requirements for meteorological buoys, defer some survey requirements until a project is approved and allow incremental funding of decommissioning accounts over the life of a facility.
Reporting by Nichola Groom; Editing by David Gregorio and Marguerita Choy
https://www.reuters.com/business/energy ... 024-04-24/
"US plans 12 offshore wind auctions over five years"
By Nichola Groom
April 24, 2024
April 24 (Reuters) - U.S. President Joe Biden's administration unveiled plans on Wednesday to hold up to a dozen auctions of offshore wind development rights through 2028, including four before the end of this year.
The schedule will help companies, states and others plan for projects that require massive amounts of investment and infrastructure, the Interior Department said in a statement.
Interior has held just four offshore wind auctions since Biden took office in 2021.
The last one, in the Gulf of Mexico last August, attracted lackluster industry interest.
The agency will regularly update the schedule under new regulations finalized on Wednesday.
The rules will streamline certain requirements for offshore wind development and cut industry costs by $1.9 billion over the next two decades, Interior said.
"Our offshore wind leasing schedule will provide predictability to help developers and communities plan ahead and will provide the confidence needed to continue building on the tremendous offshore wind supply chain and manufacturing investments that we've already seen," Interior Secretary Deb Haaland said in a statement.
The administration is determined to support the nascent U.S. offshore wind industry at a time when projects have been plagued by rising costs tied to inflation, interest rates and supply chain constraints.
Just this week, New York state stalled three major planned offshore wind farms.
According to Interior's schedule, this year the agency will hold lease sales for areas in the Central Atlantic, Gulf of Maine, Gulf of Mexico and Oregon.
In 2025, it will hold a single sale in the Gulf of Mexico.
In 2026, it will hold an auction in the Central Atlantic.
In 2027, two sales are scheduled - the Gulf of Mexico and New York Bight.
In 2028, Interior aims to hold four auctions - in California, an undetermined U.S. territory, the Gulf of Maine and Hawaii.
The timing of the sales is linked to the administration's five-year schedule to offer acreage to oil and gas companies for offshore development.
A provision in Biden's landmark climate change law, the Inflation Reduction Act, requires that Interior must offer at least 60 million acres (24.3 million hectares) for oil and gas leasing a year before issuing an offshore wind lease.
The U.S. last held an oil and gas auction in December of last year and will not hold another one until 2025 under a scaled back five-year drilling plan finalized last year.
In addition to establishing a leasing schedule, the offshore wind regulations finalized on Wednesday eliminate requirements for meteorological buoys, defer some survey requirements until a project is approved and allow incremental funding of decommissioning accounts over the life of a facility.
Reporting by Nichola Groom; Editing by David Gregorio and Marguerita Choy
https://www.reuters.com/business/energy ... 024-04-24/
Re: WINDMILLS AND SOLAR FARMS
"New York offshore wind projects scrapped, along with promise of local jobs - GE Vernova was to build turbines at Port of Coeymans, but that is canceled for now"
By Rick Karlin, Albany, New York Times Union
April 22, 2024
COEYMANS — Just over a year ago, state and corporate executives were heralding what they said could be some 870 high-paying jobs at the Port of Coeymans that would involve assembling offshore wind turbine engines and blades built by GE Vernova and LM Wind Power.
But last week, those jobs vanished — at least for now — before they were ever created.
That’s because two major offshore wind farms that were going to use the port as a fabrication area canceled their plans.
However, executives at the Port of Coeymans say they intend to continue expanding despite the cancellation of the Attentive and Community Offshore wind projects off the coast of Long Island.
The cancellations were just the latest of several similar reversals along the East Coast over the last year that illustrate the variables and cost challenges facing the push by both New York and the Biden administration to develop coastal wind as a major energy source.
Both the 1,314-megawatt Community Offshore project proposed by RWE, as well as the 1,404-megawatt Attentive project from Rise Power and Light and the French energy giant Total were canceled last week.
The news was listed on the New York State Energy Research and Development Authority’s website, and was first reported by Politico.
“No final awards will be made … and NYSERDA will look to advance a future competitive solicitation,” the agency stated on its website.
The reason cited was GE Vernova’s pivot from a new 18-megawatt turbine to their existing 15.5-megawatt device.
Without the larger turbines, developers would have to build more wind towers, which would add to the cost.
The Port of Coeymans had initially been identified as the facility where GE Vernova was going to build some of their turbines and blades, as well as LM Wind Power blades.
But with the Attentive project also halted, at least in the near term the port won’t be hosting a turbine factory.
Port officials, though, stressed that work is proceeding for two other wind projects that are currently under construction off Long Island: Empire Wind from Equinor and Sunrise from Orsted, two Scandinavian companies that are major global developers of offshore wind farms.
Both the Port of Coeymans and GE Vernova said they haven’t given up on the idea of building turbines and blades in Coeymans.
“The offshore wind industry still presents a tremendous opportunity for New York state,” Carver Companies Chief Operating Officer Nick Laraway said in a statement.
The Carver Companies owns and operates the Port of Coeymans.
“The Port of Coeymans will continue supporting offshore wind projects Sunrise Wind and Empire Wind as announced by the state earlier this year,” Laraway added.
The port is handling some of the steel needed for the Sunrise project, and will supply aggregate stone for Empire Wind.
The number of people working on the steel and aggregate supplies at the Port of Coeymans wasn’t immediately available.
GE Vernova also said it remains committed to the Port of Coeymans as a site for any future construction needs.
The wind developers said their cancellation followed a change in plans by GE Vernova: The power spinoff of General Electric Co. earlier this year said it was focusing on producing more “workhorse” 15.5-megawatt turbines rather than the newer and more complex 18-MW variant.
The company said there is plenty of demand for the 15.5-megawatt models as well as the 3- and 6-megawatt turbines it builds for land-based wind farms.
The Port of Coeymans isn’t the only spot along the Hudson River in the Capital Region to be buffeted by what has become a volatile offshore wind industry.
Three and a half years ago, local politicians and business boosters cheered news that the Port of Albany, about nine miles north of Coeymans, would host a turnkey factory for the construction of the massive steel towers that support the offshore turbines to be used in Equinor’s projects.
But a year later, port officials said the costs of building the factory had grown from early estimates of $350 million to $604 million.
For now, the site is prepared and shovel-ready, but no construction has started due to a lack of funds.
Both Coeymans and Albany, though, remain prime spots for wind development, with lower costs than the New York City area and access to the Hudson River, where barges can haul items like towers and turbines to wind farm locations off the Atlantic Coast.
“The fundamentals of both Coeymans and the Port of Albany are both compelling,” remarked Fred Zalcman, director of the NY Offshore Wind Alliance, a trade group of wind developers.
“Even if this didn’t pan out, I do believe there will be other opportunities down the road,” he said.
Steve Hughes contributed to this report.
https://www.timesunion.com/business/art ... lines&utm_
By Rick Karlin, Albany, New York Times Union
April 22, 2024
COEYMANS — Just over a year ago, state and corporate executives were heralding what they said could be some 870 high-paying jobs at the Port of Coeymans that would involve assembling offshore wind turbine engines and blades built by GE Vernova and LM Wind Power.
But last week, those jobs vanished — at least for now — before they were ever created.
That’s because two major offshore wind farms that were going to use the port as a fabrication area canceled their plans.
However, executives at the Port of Coeymans say they intend to continue expanding despite the cancellation of the Attentive and Community Offshore wind projects off the coast of Long Island.
The cancellations were just the latest of several similar reversals along the East Coast over the last year that illustrate the variables and cost challenges facing the push by both New York and the Biden administration to develop coastal wind as a major energy source.
Both the 1,314-megawatt Community Offshore project proposed by RWE, as well as the 1,404-megawatt Attentive project from Rise Power and Light and the French energy giant Total were canceled last week.
The news was listed on the New York State Energy Research and Development Authority’s website, and was first reported by Politico.
“No final awards will be made … and NYSERDA will look to advance a future competitive solicitation,” the agency stated on its website.
The reason cited was GE Vernova’s pivot from a new 18-megawatt turbine to their existing 15.5-megawatt device.
Without the larger turbines, developers would have to build more wind towers, which would add to the cost.
The Port of Coeymans had initially been identified as the facility where GE Vernova was going to build some of their turbines and blades, as well as LM Wind Power blades.
But with the Attentive project also halted, at least in the near term the port won’t be hosting a turbine factory.
Port officials, though, stressed that work is proceeding for two other wind projects that are currently under construction off Long Island: Empire Wind from Equinor and Sunrise from Orsted, two Scandinavian companies that are major global developers of offshore wind farms.
Both the Port of Coeymans and GE Vernova said they haven’t given up on the idea of building turbines and blades in Coeymans.
“The offshore wind industry still presents a tremendous opportunity for New York state,” Carver Companies Chief Operating Officer Nick Laraway said in a statement.
The Carver Companies owns and operates the Port of Coeymans.
“The Port of Coeymans will continue supporting offshore wind projects Sunrise Wind and Empire Wind as announced by the state earlier this year,” Laraway added.
The port is handling some of the steel needed for the Sunrise project, and will supply aggregate stone for Empire Wind.
The number of people working on the steel and aggregate supplies at the Port of Coeymans wasn’t immediately available.
GE Vernova also said it remains committed to the Port of Coeymans as a site for any future construction needs.
The wind developers said their cancellation followed a change in plans by GE Vernova: The power spinoff of General Electric Co. earlier this year said it was focusing on producing more “workhorse” 15.5-megawatt turbines rather than the newer and more complex 18-MW variant.
The company said there is plenty of demand for the 15.5-megawatt models as well as the 3- and 6-megawatt turbines it builds for land-based wind farms.
The Port of Coeymans isn’t the only spot along the Hudson River in the Capital Region to be buffeted by what has become a volatile offshore wind industry.
Three and a half years ago, local politicians and business boosters cheered news that the Port of Albany, about nine miles north of Coeymans, would host a turnkey factory for the construction of the massive steel towers that support the offshore turbines to be used in Equinor’s projects.
But a year later, port officials said the costs of building the factory had grown from early estimates of $350 million to $604 million.
For now, the site is prepared and shovel-ready, but no construction has started due to a lack of funds.
Both Coeymans and Albany, though, remain prime spots for wind development, with lower costs than the New York City area and access to the Hudson River, where barges can haul items like towers and turbines to wind farm locations off the Atlantic Coast.
“The fundamentals of both Coeymans and the Port of Albany are both compelling,” remarked Fred Zalcman, director of the NY Offshore Wind Alliance, a trade group of wind developers.
“Even if this didn’t pan out, I do believe there will be other opportunities down the road,” he said.
Steve Hughes contributed to this report.
https://www.timesunion.com/business/art ... lines&utm_
Re: WINDMILLS AND SOLAR FARMS
THE CAPE CHARLES MIRROR APRIL 25, 2024 AT 11:49 AM
Paul Plante says:
And hey, hey, hey, people JOBS, JOBS, JOBS and even more jobs on top of all those jobs!
SCADS of them thanks to American president and noted and well-loved world leader Joseph Robinette Biden, Junior, into whose strong and loving hands we have entrusted Joe with custodianship of the SOUL OF AMERICA, thanks to his INSANE GREEN DREAM which is going to literally coat the oceans of America, east and west, with so many windmills it won’t be funny, and America is going to get so RICH, RICH, RICH selling electric power to the rest of the world that not only will our federal deficit of $33 TRILLION be wiped out literally overnight, but all our taxes will be canceled and not only that, but the federal government will have so much extra money it won’t know what to do with, so each and every one of us will get a MILLION DOLLAR ROYALTY CHECK each year in time for BLACK FRIDAY sales, and life in America will be glorious, thanks to Joe Biden and BUILD BACK BETTER BIDENOMICS which has built the NEW AMERICAN ECONOMY from the BOTTOM UP and the MIDDLE OUT so sing hallelujah, people, and say AMEN, because as we can see in this Albany, New York Times Union article titled “New York offshore wind projects scrapped, along with promise of local jobs – GE Vernova was to build turbines at Port of Coeymans, but that is canceled for now” by Rick Karlin on April 22, 2024, the GOOD TIMES promised by Joe Biden are finally here at last:
COEYMANS — Just over a year ago, state and corporate executives were heralding what they said could be some 870 high-paying jobs at the Port of Coeymans that would involve assembling offshore wind turbine engines and blades built by GE Vernova and LM Wind Power.
But last week, those jobs vanished — at least for now — before they were ever created.
end quotes
And talk about BIDEN BOBAUNCE (ostentatious or boastful behavior, vain display, worldly vanity) and all these HIGH-PAYING GOOD UNION JOBS Joe Biden says he has “created,” there is the true Biden job creation right there in front of us, numbers on pieces of paper that mean nothing in the reality that exists outside of white house press releases – a pocketful of mumbles such are Joe Biden’s promises, which takes us back to that story, to wit:
That’s because two major offshore wind farms that were going to use the port as a fabrication area canceled their plans.
However, executives at the Port of Coeymans say they intend to continue expanding despite the cancellation of the Attentive and Community Offshore wind projects off the coast of Long Island.
The cancellations were just the latest of several similar reversals along the East Coast over the last year that illustrate the variables and cost challenges facing the push by both New York and the Biden administration to develop coastal wind as a major energy source.
Both the 1,314-megawatt Community Offshore project proposed by RWE, as well as the 1,404-megawatt Attentive project from Rise Power and Light and the French energy giant Total were canceled last week.
The news was listed on the New York State Energy Research and Development Authority’s website, and was first reported by Politico.
“No final awards will be made … and NYSERDA will look to advance a future competitive solicitation,” the agency stated on its website.
The reason cited was GE Vernova’s pivot from a new 18-megawatt turbine to their existing 15.5-megawatt device.
Without the larger turbines, developers would have to build more wind towers, which would add to the cost.
The Port of Coeymans had initially been identified as the facility where GE Vernova was going to build some of their turbines and blades, as well as LM Wind Power blades.
But with the Attentive project also halted, at least in the near term the port won’t be hosting a turbine factory.
Port officials, though, stressed that work is proceeding for two other wind projects that are currently under construction off Long Island: Empire Wind from Equinor and Sunrise from Orsted, two Scandinavian companies that are major global developers of offshore wind farms.
Both the Port of Coeymans and GE Vernova said they haven’t given up on the idea of building turbines and blades in Coeymans.
end quotes
For the record, the port of Coeymans, which is on the Hudson River in corrupt, backwards, Democrat-controlled New York state is about ONE HUNDRED FORTY MILES from New York City and the Atlantic Ocean.
Going back to the story of BIDEN INSANE GREEN DREAM FAILURE, it continues as follows:
“The offshore wind industry still presents a tremendous opportunity for New York state,” Carver Companies Chief Operating Officer Nick Laraway said in a statement.
The Carver Companies owns and operates the Port of Coeymans.
“The Port of Coeymans will continue supporting offshore wind projects Sunrise Wind and Empire Wind as announced by the state earlier this year,” Laraway added.
The port is handling some of the steel needed for the Sunrise project, and will supply aggregate stone for Empire Wind.
The number of people working on the steel and aggregate supplies at the Port of Coeymans wasn’t immediately available.
GE Vernova also said it remains committed to the Port of Coeymans as a site for any future construction needs.
The wind developers said their cancellation followed a change in plans by GE Vernova: The power spinoff of General Electric Co. earlier this year said it was focusing on producing more “workhorse” 15.5-megawatt turbines rather than the newer and more complex 18-MW variant.
The company said there is plenty of demand for the 15.5-megawatt models as well as the 3- and 6-megawatt turbines it builds for land-based wind farms.
The Port of Coeymans isn’t the only spot along the Hudson River in the Capital Region to be buffeted by what has become a volatile offshore wind industry.
Three and a half years ago, local politicians and business boosters cheered news that the Port of Albany, about nine miles north of Coeymans, would host a turnkey factory for the construction of the massive steel towers that support the offshore turbines to be used in Equinor’s projects.
But a year later, port officials said the costs of building the factory had grown from early estimates of $350 million to $604 million.
For now, the site is prepared and shovel-ready, but no construction has started due to a lack of funds.
Both Coeymans and Albany, though, remain prime spots for wind development, with lower costs than the New York City area and access to the Hudson River, where barges can haul items like towers and turbines to wind farm locations off the Atlantic Coast.
“The fundamentals of both Coeymans and the Port of Albany are both compelling,” remarked Fred Zalcman, director of the NY Offshore Wind Alliance, a trade group of wind developers.
“Even if this didn’t pan out, I do believe there will be other opportunities down the road,” he said.
end quotes
And that is the news, people, stay tuned, more is yet to come!
http://www.capecharlesmirror.com/paul-p ... ent-921277
Paul Plante says:
And hey, hey, hey, people JOBS, JOBS, JOBS and even more jobs on top of all those jobs!
SCADS of them thanks to American president and noted and well-loved world leader Joseph Robinette Biden, Junior, into whose strong and loving hands we have entrusted Joe with custodianship of the SOUL OF AMERICA, thanks to his INSANE GREEN DREAM which is going to literally coat the oceans of America, east and west, with so many windmills it won’t be funny, and America is going to get so RICH, RICH, RICH selling electric power to the rest of the world that not only will our federal deficit of $33 TRILLION be wiped out literally overnight, but all our taxes will be canceled and not only that, but the federal government will have so much extra money it won’t know what to do with, so each and every one of us will get a MILLION DOLLAR ROYALTY CHECK each year in time for BLACK FRIDAY sales, and life in America will be glorious, thanks to Joe Biden and BUILD BACK BETTER BIDENOMICS which has built the NEW AMERICAN ECONOMY from the BOTTOM UP and the MIDDLE OUT so sing hallelujah, people, and say AMEN, because as we can see in this Albany, New York Times Union article titled “New York offshore wind projects scrapped, along with promise of local jobs – GE Vernova was to build turbines at Port of Coeymans, but that is canceled for now” by Rick Karlin on April 22, 2024, the GOOD TIMES promised by Joe Biden are finally here at last:
COEYMANS — Just over a year ago, state and corporate executives were heralding what they said could be some 870 high-paying jobs at the Port of Coeymans that would involve assembling offshore wind turbine engines and blades built by GE Vernova and LM Wind Power.
But last week, those jobs vanished — at least for now — before they were ever created.
end quotes
And talk about BIDEN BOBAUNCE (ostentatious or boastful behavior, vain display, worldly vanity) and all these HIGH-PAYING GOOD UNION JOBS Joe Biden says he has “created,” there is the true Biden job creation right there in front of us, numbers on pieces of paper that mean nothing in the reality that exists outside of white house press releases – a pocketful of mumbles such are Joe Biden’s promises, which takes us back to that story, to wit:
That’s because two major offshore wind farms that were going to use the port as a fabrication area canceled their plans.
However, executives at the Port of Coeymans say they intend to continue expanding despite the cancellation of the Attentive and Community Offshore wind projects off the coast of Long Island.
The cancellations were just the latest of several similar reversals along the East Coast over the last year that illustrate the variables and cost challenges facing the push by both New York and the Biden administration to develop coastal wind as a major energy source.
Both the 1,314-megawatt Community Offshore project proposed by RWE, as well as the 1,404-megawatt Attentive project from Rise Power and Light and the French energy giant Total were canceled last week.
The news was listed on the New York State Energy Research and Development Authority’s website, and was first reported by Politico.
“No final awards will be made … and NYSERDA will look to advance a future competitive solicitation,” the agency stated on its website.
The reason cited was GE Vernova’s pivot from a new 18-megawatt turbine to their existing 15.5-megawatt device.
Without the larger turbines, developers would have to build more wind towers, which would add to the cost.
The Port of Coeymans had initially been identified as the facility where GE Vernova was going to build some of their turbines and blades, as well as LM Wind Power blades.
But with the Attentive project also halted, at least in the near term the port won’t be hosting a turbine factory.
Port officials, though, stressed that work is proceeding for two other wind projects that are currently under construction off Long Island: Empire Wind from Equinor and Sunrise from Orsted, two Scandinavian companies that are major global developers of offshore wind farms.
Both the Port of Coeymans and GE Vernova said they haven’t given up on the idea of building turbines and blades in Coeymans.
end quotes
For the record, the port of Coeymans, which is on the Hudson River in corrupt, backwards, Democrat-controlled New York state is about ONE HUNDRED FORTY MILES from New York City and the Atlantic Ocean.
Going back to the story of BIDEN INSANE GREEN DREAM FAILURE, it continues as follows:
“The offshore wind industry still presents a tremendous opportunity for New York state,” Carver Companies Chief Operating Officer Nick Laraway said in a statement.
The Carver Companies owns and operates the Port of Coeymans.
“The Port of Coeymans will continue supporting offshore wind projects Sunrise Wind and Empire Wind as announced by the state earlier this year,” Laraway added.
The port is handling some of the steel needed for the Sunrise project, and will supply aggregate stone for Empire Wind.
The number of people working on the steel and aggregate supplies at the Port of Coeymans wasn’t immediately available.
GE Vernova also said it remains committed to the Port of Coeymans as a site for any future construction needs.
The wind developers said their cancellation followed a change in plans by GE Vernova: The power spinoff of General Electric Co. earlier this year said it was focusing on producing more “workhorse” 15.5-megawatt turbines rather than the newer and more complex 18-MW variant.
The company said there is plenty of demand for the 15.5-megawatt models as well as the 3- and 6-megawatt turbines it builds for land-based wind farms.
The Port of Coeymans isn’t the only spot along the Hudson River in the Capital Region to be buffeted by what has become a volatile offshore wind industry.
Three and a half years ago, local politicians and business boosters cheered news that the Port of Albany, about nine miles north of Coeymans, would host a turnkey factory for the construction of the massive steel towers that support the offshore turbines to be used in Equinor’s projects.
But a year later, port officials said the costs of building the factory had grown from early estimates of $350 million to $604 million.
For now, the site is prepared and shovel-ready, but no construction has started due to a lack of funds.
Both Coeymans and Albany, though, remain prime spots for wind development, with lower costs than the New York City area and access to the Hudson River, where barges can haul items like towers and turbines to wind farm locations off the Atlantic Coast.
“The fundamentals of both Coeymans and the Port of Albany are both compelling,” remarked Fred Zalcman, director of the NY Offshore Wind Alliance, a trade group of wind developers.
“Even if this didn’t pan out, I do believe there will be other opportunities down the road,” he said.
end quotes
And that is the news, people, stay tuned, more is yet to come!
http://www.capecharlesmirror.com/paul-p ... ent-921277