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Odd Lots

Orsted's Americas CEO on Fixing What Went Wrong in Wind Power

Jun 6, 2024
52:30
Snipd AI
Orsted's Americas CEO discusses the challenges in the wind power industry, including cancelled projects and higher interest rates. The potential implications of another Trump presidency, subsidy-free onshore wind projects, and the industry outlook are also explored.
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Podcast summary created with Snipd AI

Quick takeaways

  • Cost challenges in offshore wind projects due to high upfront investments and changing cost environment.
  • Impact of political landscape on offshore wind industry affecting offtake agreements and demand signals.

Deep dives

The Importance of Offshore Wind Energy in the US

Offshore wind energy in the US faces challenges due to high upfront investments in infrastructure like ships, ports, and factories, making the cost of projects significant. Financing is impacted by rising interest rates and a changing cost environment. However, incentives like the Inflation Reduction Act provide crucial support, introducing measures like transferability for tax credits and bonuses for domestic content.

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