Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Reuters: US green power demand expected to grow regardless of election outcome
https://www.reuters.com/business/energy/orsted-q3-operating-profit-falls-slightly-below-expectations-2024-11-05/US green power demand expected to grow regardless of election outcome
By Jacob Gronholt-Pedersen and Stine Jacobsen
November 5, 2024 12:21 PM EST Updated 3 hours ago
Summary
Offshore wind developers have seen profits shrink in recent years due to rising raw material costs, high interest rates, inadequate grid connections, supply chain bottlenecks, and Chinese competition, prompting companies like BP (BP.L) and Equinor (EQNR.OL) to scale back their ambitions.
In the United States, the nascent offshore wind industry has been roiled by cancelled projects, postponed lease sales and a construction accident at the country's first major offshore wind project.
…
By Jacob Gronholt-Pedersen and Stine Jacobsen
November 5, 2024 12:21 PM EST Updated 3 hours ago
Summary
- Orsted flags higher costs at US offshore wind project
- Vestas shares drop after profit margin warning
- Both say green power demand to grow despite election outcome
- Harris supports offshore wind; Trump has vowed to scrap projects
- Orsted's Q3 operating profit fell 14%
Offshore wind developers have seen profits shrink in recent years due to rising raw material costs, high interest rates, inadequate grid connections, supply chain bottlenecks, and Chinese competition, prompting companies like BP (BP.L) and Equinor (EQNR.OL) to scale back their ambitions.
In the United States, the nascent offshore wind industry has been roiled by cancelled projects, postponed lease sales and a construction accident at the country's first major offshore wind project.
…