Wow! Orsted walks away from BOTH NJ wind farm projects!

[SubieRubyRoo]

Can’t post the article here, because the references make big deals about the responsible political parties. Was supposed to be a 2,200 MW facility! But, after a couple years of development, loads of concessions from the state, and millions of dollars earmarked for the project, Orsted is breaking the deal due to costs and delays.

Hope the contracts were written well enough that the people of NJ will be able to recoup their costs.

 

[OVERKILL]

Can’t post the article here, because the references make big deals about the responsible political parties. Was supposed to be a 2,200 MW facility! But, after a couple years of development, loads of concessions from the state, and millions of dollars earmarked for the project, Orsted is breaking the deal due to costs and delays.

Hope the contracts were written well enough that the people of NJ will be able to recoup their costs.

Yes, offshore wind is taking the piss, as the Aussies like to say. Project cost is skyrocketing and the PPA's for projects signed years ago now make them no longer financially viable.

 

[cptbarkey]

Commercial financing is taking a nosedive, not really surprised.

 

[SubieRubyRoo]

Yes, offshore wind is taking the piss, as the Aussies like to say. Project cost is skyrocketing and the PPA's for projects signed years ago now make them no longer financially viable.

And yet, Canadian nukes seem to be doing swimmingly… and performing likewise. Dang shame nobody here can seem to remove their heads from their rectums and jump on that bullet train. They’d be legendary if they inked 5-10 new plant deals. Just think of all the ongoing, well-paying jobs those plants would create! Few transient positions.

Seems to good to be true, and yet… it’s ignored. Sad.

 

[simple_gifts]

They’d be legendary if they inked 5-10 new plant deals.

And they'd be free from all the forces that doomed the wind projects, No high financing, no supply chain issues, no inflationary pressure, delays?

 

[SubieRubyRoo]

And they'd be free from all the forces that doomed the wind projects, No high financing, no supply chain issues, no inflationary pressure, delays?

I know you’re being sarcastic, but with the data that @OVERKILL has posted, it’s clear that far and away nukes not only are “green”, but also far outpace the low expectations.

You can control the output of a CANDU. You can’t control the wind. You can’t control clear skies. Also, nukes don’t care about the weather, nor the time of day. You call on it, it delivers. We need to stop kidding ourselves: we have clean, sustainable technologies that are NOT wind and solar. If we leave our future to what the PTB want, 50%+ of us will have to die for their plans to ever be remotely feasible.

I’m not willing to play God with others’ lives. We’ve got the technologies for cheap energy (and gas/diesel). To ignore that for the pipe dream of Net Zero makes one no different than other madmen throughout history.

 

[OVERKILL]

And they'd be free from all the forces that doomed the wind projects, No high financing, no supply chain issues, no inflationary pressure, delays?

Well, we built two plants in the middle of the 80's inflation extravaganza with rates MUCH higher than they are right now, so it's certainly doable. But, this was done by a public utility with long-term plans, not private market-driven stuff like we are seeing presently in many jurisdictions, with the market being heavily distorted by REC's and PPA's.

 

[OVERKILL]

I know you’re being sarcastic, but with the data that @OVERKILL has posted, it’s clear that far and away nukes not only are “green”, but also far outpace the low expectations.

You can control the output of a CANDU. You can’t control the wind. You can’t control clear skies. Also, nukes don’t care about the weather, nor the time of day. You call on it, it delivers. We need to stop kidding ourselves: we have clean, sustainable technologies that are NOT wind and solar. If we leave our future to what the PTB want, 50%+ of us will have to die for their plans to ever be remotely feasible.

I’m not willing to play God with others’ lives. We’ve got the technologies for cheap energy (and gas/diesel). To ignore that for the pipe dream of Net Zero makes one no different than other madmen throughout history.

 

[PandaBear]

I know you’re being sarcastic, but with the data that @OVERKILL has posted, it’s clear that far and away nukes not only are “green”, but also far outpace the low expectations.

You can control the output of a CANDU. You can’t control the wind. You can’t control clear skies. Also, nukes don’t care about the weather, nor the time of day. You call on it, it delivers. We need to stop kidding ourselves: we have clean, sustainable technologies that are NOT wind and solar. If we leave our future to what the PTB want, 50%+ of us will have to die for their plans to ever be remotely feasible.

I’m not willing to play God with others’ lives. We’ve got the technologies for cheap energy (and gas/diesel). To ignore that for the pipe dream of Net Zero makes one no different than other madmen throughout history.

The biggest problem of nuke is usually the lawsuits trying to stall it. These kind of stalling cause delays and delays lead to financing disasters. Main reason why dictatorships are where nukes are propping up now: none of those environmental lawsuits.

Most fossil fuel and nuke plants would be heavily depending on water, so drought can in theory cause problem to nuke as well, if the cooling water is a river and can't be heated too much in a drought.

 

[LenZee]

Cancelled due to ship shortage.

Ship shortage dealt death blow to Orsted's NJ offshore wind hopes

Danish energy firm Orsted's shock decision to cancel two offshore wind farms off New Jersey this week was based in large part on big delays securing the ship it needed to build the project, company officials said. The world's biggest offshore wind farm company on Tuesday said it would cease all...

finance.yahoo.com

 

[OVERKILL]

Cancelled due to ship shortage.

Ship shortage dealt death blow to Orsted's NJ offshore wind hopes

Danish energy firm Orsted's shock decision to cancel two offshore wind farms off New Jersey this week was based in large part on big delays securing the ship it needed to build the project, company officials said. The world's biggest offshore wind farm company on Tuesday said it would cease all...

finance.yahoo.com

Yes, but that in turn is due to economics:

He said those delays would put Orsted in "a situation where we would need to go out and recontract all or very large scopes of the project at expectedly higher prices."

MOVING AHEAD IN NEW YORK

In New York, Orsted is moving forward with construction of its 704-megawatt (MW) Revolution project and is taking "a cautionary approach" to its 924-MW Sunrise project.

Nipper told analysts that unlike Ocean Wind, Orsted is still pursuing Sunrise for several reasons, including the fact that the company has already lined up a vessel to build it.

He added that Orsted believes it can secure a 10% bonus federal tax credit for Sunrise – reserved for projects that use a certain amount of domestically-produced content - and more money for its power by rebidding the project in an expected expedited solicitation in New York.

 

[dogememe]

Agreed we need nuclear power for our future. Too bad they aren't doing it.