2 Mega Wind projects cancelled in NJ

As I hoped, and predicted, Wind is dying and the NC projects just took a huge step backwards. If NJ, which has legal requirements to generate with Wind, cant find a way to move forward, then NC is safe where there is no legislative requirement… just aspirational goals. No one is going to step in to take over a projects that has huge economic and political obstacles in front of it.

 Reasons cited:

Inflation… modelled 3%... its 8%

Materials shortages… there was never enough steel and copper to move ahead

Supply chain challenges… Chinese batteries and rare earth elements for the magnets

This is great news.

The bad news is GE and other major suppliers will seek cancellation fees… so expect to hear the words bailout soon.

 https://www.cnbc.com/2023/11/01/orsted-axes-two-new-jersey-wind-projects-takes-4-billion-writedown.html