Equinor and BP cancel Empire Wind 2 project off New York coast.
The decision was made due to economic conditions such as inflation, interest rates and supply chain disruptions.
Biden's Green Dream Stumbles as Major Wind Project Cancelled
Molly Morris, president of Equinor Renewable Energy Americas, emphasized the need for commercial viability of large-scale projects
BP supports NYSERDA’s commitment to offshore wind and its role in clean energy.
The cancellation follows formal approval from the Biden administration and positive approval from the Departments of the Interior and Energy.
Orsted also canceled the Ocean Wind 1 and 2 projects, citing unfavorable economic conditions.
Empire Wind 1 and 2 are expected to have a combined capacity of 2,076 megawatts and power 700,000 homes per year
The November approval was the sixth such approval and is consistent with Biden’s green energy goals.