More headwinds continue

Investment Analysis Clubs Macro Economic Trends and Risks
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The Vineyard Wind 2 project will now have trouble going ahead. Vineyard Wind 1was shut down for five months after the blade failure in July but has now restarted. Massachusetts is less than halfway to its mandated 2027 targets for offshore wind.

The decision on wind was expected. Gov. Ned Lamont had expressed reluctance to accept the proposals arising from the three-state REP over the cost to ratepayers…

“It seems very expensive, and I care deeply about green and affordability,” Lamont said.

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“By rescinding WEAs, BOEM is ending the federal practice of designating large areas of the OCS for speculative wind development, and is de-designating over 3.5 million acres of unleased federal waters previously targeted for offshore wind development across the Gulf of America, Gulf of Maine, the New York Bight, California, Oregon, and the Central Atlantic,” according to a BOEM statement.

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