To E24, Magnus Frantzen Eidsvold, spokesperson for Equinor, says that they have, in mutual understanding with the authorities in New York, terminated the agreement that Equinor had with the New York State Energy Research and Development Authority (NYSERDA). Equinor writes in a press release that the decision is driven by commercial conditions such as inflation, interest rate increases and bottlenecks in the supply chain. This meant that the previously concluded power sales agreement for Empire Wind 2 was not sustainable. 3 billion and 500,000 homes – We are now taking a step back, but work on the project itself and making it commercially sustainable continues, says Eidsvold to E24. The agreement in question was announced in 2019. The total investments in 2019 were around 3 billion dollars, and the project should then be able to supply more than 500,000 homes in New York with electricity. – Must be commercially viable – An ambitious project like this must be commercially viable, says Molly Morris, director of Equinor Renewables Americas, in the press release. Morris points out that the decision allows Equinor to develop Empire Wind 2 into a stronger and more robust project. – We will continue the dialogue with our many community partners throughout New York, says Morris. In October last year, E24 reported that Equinor wrote down values on offshore wind projects in the US by 300 million dollars in the third quarter. Equinor then reported that “offshore wind projects on the north-east coast of the USA are negatively affected by cost inflation and limitations in the value chain”.
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Equinor withdraws from offshore wind contract in New York – news Rogaland – Local news, TV and radio
