New Jersey Doubling Down on Offshore Wind Power

By Christopher Martin (Bloomberg) --New Jersey Governor Phil Murphy is doubling his state’s offshore wind power goal as he competes with New York and elsewhere to jump start an industry expected to create thousands of jobs. New Jersey plans to install 7.5 gigawatts of offshore wind by 2035, up from a previous target of 3.5 gigawatts by 2030. It will be enough for more than … [Read more...]

Earth’s Increasing Wind Speeds a Boon for Offshore Renewables

By William Mathis (Bloomberg) --The world is getting windier at the same time that developers are installing more turbines to generate electricity from breezes. Average wind speeds rose about 7% since 2010 in northern mid-latitude regions, reversing a trend of slowing winds in the decades prior, according to a group of researchers from institutions including Princeton … [Read more...]

Shell to Buy French Offshore Wind-Power Developer

By Kelly Gilblom (Bloomberg) -- Royal Dutch Shell Plc has agreed to buy French offshore wind developer Eolfi SA, continuing its expansion into renewable power. The Anglo-Dutch oil major is boosting spending on low-carbon energy as it faces pressure to address the risks climate change poses to its business. Shell’s biggest renewable bets so far have been on acquiring retail … [Read more...]

Offshore Wind Gets a Warning From Its Biggest Developer

By William Mathis and Christian Wienberg (Bloomberg) --The world’s biggest developer of offshore wind farms issued a reality check to the industry, saying it has overestimated the amount of time its turbines are generating electricity. Copenhagen-based Orsted A/S announced that offshore wind farms wouldn’t produce quite as much power as previously forecast. The adjustment … [Read more...]