The recent publication of the Fifth National Assessment report in the US has once again highlighted the economic and human costs of climate change. In the US alone $75 billion worth of damage has been recorded so far this year, and concerns are being raised about the associated knock-on impacts on food security and resource management.
The UK government has increased the prices available for offshore wind in next year's Contracts for Difference auction round following disappointment.
Two of Ørsted’s top executive management will step down with immediate effect as the company grapples with major impairments and cancellations on its US projects.
Governments are continuing to drive both investment and demands for credibility in the marketplace.
The biggest manufacturers of wind turbines and solar panels are facing their most serious financial challenges in years even as deployments of clean energy head for an annual record.
Orsted A/S (CPH: ORSTED) shares slumped to their lowest level in six years after the Danish utility dropped two US wind projects and recorded 28.4 billion kroner ($4 billion) in impairments as the crisis in the wind industry is only getting worse.
When President Joe Biden in 2021 laid out a target of deploying 30 gigawatts of offshore wind capacity during the next nine years, the plan was deemed bold and ambitious.