President Biden’s Green New Deal has suffered a serious blow as developers of a huge New York offshore wind project backed out of a deal with New York State.
Nearly 30 percent of current wind projects are likely to be delayed or canceled. Since July, four Massachusetts contracts, two in New Jersey and one in Connecticut have been shelved.
The New York pullout by BP and Equinox is a major new blow.
“Politicians may try to resuscitate it, but this extends offshore wind’s losing streak, which is quite impressive,” Dan Kish, a fellow for the Institute for Energy Research, says. Two other major wind projects, Empire Wind 1 and Beacon Wind, are in financial trouble but haven’t officially been canceled yet.
Every day that goes by it’s more clear that the much-hyped “green energy transition” is in reality a green energy bust.