EnviroPolitics Blog

Fourth offshore wind solicitation cancelled by NJ after Shell’s exit

By Mike Schuler, gCaptain

The New Jersey Board of Public Utilities (BPU) has canceled its fourth offshore wind solicitation amid significant market challenges and Shell’s withdrawal from the Atlantic Shores project.

The solicitation, which initially targeted between 1,200 MW and 4,000 MW of capacity, faced setbacks when two of three bidders withdrew, leaving Atlantic Shores as the sole remaining participant.

BPU President Christine Guhl-Sadovy cited Shell’s exit as an equity partner and uncertainty in federal actions and permitting as key factors in the decision. “The Board concluded that an award in New Jersey’s fourth offshore wind solicitation, despite the manifold benefits the industry offers to the state, would not be a responsible decision at this time,” she stated.

BPU’s decision and Shell’s departure, which comes with a $996 million impairment, reflects broader challenges in the U.S. offshore wind sector.

Read the full story here

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China surpasses 2030 renewables target six years early

By Tom Chivers, Semafor

China broke its own records for renewable energy installation in 2024, boosting solar capacity by 45.2% after an already breakneck 2023. Wind capacity leaped by 18%, also a record.

It means Beijing surpassed its 2030 renewables target six years early.

China emits the most carbon of any country, but scientists believe its emissions may have peaked, and its renewable energy production is expected to outstrip coal within five years.

While the US has also been rolling out large amounts of renewables, the industry “is facing headwinds” from President Donald Trump’s administration, The Associated Press reported: One analyst said China, the world’s biggest supplier of batteries, solar panels, and wind turbines, is “poised to lead the world in the energy transition.”

China surpasses 2030 renewables target six years early Read More »

PA Governor Josh Shapiro rolls out plan to fast-track and subsidize power plants and hydrogen projects

By MARC LEVY, Associated Press

Gov. Josh Shapiro said Thursday that he wants to fast-track the construction of big power plants in Pennsylvania and offer hundreds of millions of dollars in tax breaks for projects that provide electricity to the grid and use hydrogen.

Shapiro’s announcement comes a few days before he delivers his third budget proposal to lawmakers amid an energy crunch that threatens to raise electricity bills across Pennsylvania, the nation’s second-biggest natural gas-producing state.

Shapiro, a Democrat, said he wants to start the “next chapter in Pennsylvania’s long story of energy leadership” and keep pace with other states that are attracting big projects, such as data centers and electric vehicle factories.

“Pennsylvania, it’s time for us to be more competitive. It’s time for us to act. We need to take some big and decisive steps right now, build new sources of power so Pennsylvania doesn’t miss out,” Shapiro said at a news conference at Pittsburgh International Airport.

Shapiro said Pennsylvania is one of just 12 states that doesn’t have an entity to fast-track siting decisions for energy projects. He wants to change that by creating the Pennsylvania Reliable Energy Siting and Electric Transition Board to streamline permitting and support for new energy projects.

Read the full story here

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Once wind-energy darling Ørsted replaces CEO as stock price sags

*Wind turbines at Ørsted’s Block Island wind farm off Rhode Island.*

COPENHAGEN, Jan 31 (Reuters) – Ørsted Chief Executive Mads Nipper will step down to be replaced by company insider Rasmus Errboe, the world’s biggest offshore wind developer said on Friday, as it seeks to arrest an 83% slump in its share price since its 2021 peak.

The Danish renewables firm has been crucial to establishing a European industry for wind at sea, but the industry has struggled in recent years with rising costs, supply chain bottlenecks, higher interest rates, and regulatory changes.

Its push into the nascent U.S. market has also proved challenging, resulting in delays and impairment charges, and has been complicated by U.S. President Donald Trump’s outspoken opposition to wind power. Trump has suspended federal offshore wind leasing pending an environmental and economic review.

Nipper, who took the helm in January 2021, faced questions over his stewardship as losses mounted and the share price fell.

“The impacts on our business of the increasingly challenging situation in the offshore wind industry … mean that our focus has shifted,” Ørsted Chair Lene Skole said in a statement, without elaborating.

“Therefore, the board has today agreed with Mads Nipper that it’s the right time for him to step down.”

The former oil and gas company’s woes reflect the changing fortunes of wind power globally as soaring costs, delays and limited supply chain investment prompt investors to reassess the speed of the energy transition.

Once a green investor favorite, Ørsted’s market value stood at $15.1 billion at Thursday’s close, a far cry from its peak of $93.9 billion in January 2021, LSEG data shows

Once wind-energy darling Ørsted replaces CEO as stock price sags Read More »

Shell exits NJ’s 1st offshore wind farm. Can project survive?

By Steven Rodas | NJ Advance Media for NJ.com

Shell has effectively withdrawn from New Jersey’s first offshore wind farm, Atlantic Shores — marking the latest major setback to the state’s clean energy ambitions.

Spokespeople told NJ Advance Media on Thursday that the developer remained committed to the project.

At the end of last year, Atlantic Shores (made up of both Shell New Energies US and EDF Renewables North America) noted that its plans for nearly 200 wind turbines were on schedule.

The CEO of the developer also said construction on the wind farm — set to be built roughly 8 to 20 miles off the coast of New Jersey between Atlantic City and Barnegat Light — could begin some time in 2025.

It’s unclear if that timeline remains intact after Shell’s Chief Financial Officer said in an earnings call Thursday that the company would, while retreating from the project, write-off of nearly $1 billion. That financially signals a significant pivot from previous plans.

Read the full story here

Shell exits NJ’s 1st offshore wind farm. Can project survive? Read More »

Trump’s new MPG edict: Guzzle Baby, Guzzle

By ALEXA ST. JOHN, Associated Press

DETROIT (AP) — Hours after being sworn in as the new U.S. Secretary of Transportation, Sean Duffy took aim at the main way the federal government regulates miles per gallon for cars and pickup trucks — also a principal way that it regulates air pollution and addresses climate change.

Duffy ordered the federal agency in charge of fuel economy standards to reverse them as soon as possible. The standards have been in place since the 1970s energy crisis and were intended to conserve fuel and save consumers money at the gas pump.

Read the full story here

Trump’s new MPG edict: Guzzle Baby, Guzzle Read More »

Fourth offshore wind solicitation cancelled by NJ after Shell’s exit

China surpasses 2030 renewables target six years early

PA Governor Josh Shapiro rolls out plan to fast-track and subsidize power plants and hydrogen projects

Once wind-energy darling Ørsted replaces CEO as stock price sags

Shell exits NJ’s 1st offshore wind farm. Can project survive?

Trump’s new MPG edict: Guzzle Baby, Guzzle

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