Orsted Slowed by US Offshore Wind Projects, Lackluster Gulf of Mexico Auction

Major offshore wind developer Ørsted's ambitious U.S. projects are being battered by a perfect storm of supply chain breakdowns, soaring interest rates, and evaporating tax credits. The dire situation has already led to lengthy delays and billions in potential losses on high-profile projects like Ocean Wind. Down in the Gulf of Mexico, the three BOEM offshore auction plots only received 1 bid...Phil Totaro walks us through the bidding and what lies ahead. Rosemary Barnes explains the innovative next generation of sails for transport ships to reduce emissions. And our wind farm of the week is the Twin Groves Farm in Illinois! Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us!  Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com Uptime 181 Allen Hall: I assume everybody has seen the full self-driving 12 that Elon Musk put on X the other day where the car was essentially driving itself and I thought, well, Rosemary is gonna put in our order for the cyber truck. All will be right with the world.  Rosemary Barnes: It's, I'm not the biggest fan of, of the aesthetics of the cyber truck. Allen Hall: Well, you're probably the only person on the planet. 'cause they have a five year wait list for those trucks.  Rosemary Barnes: Yeah. Yeah. I, I actually, I I can barely believe that they have orders for that, but it's just been an example where I've had to. To accept that I don't, I don't have my finger on the pulse of what truck drivers want, want their trucks to look like. Allen Hall: Yeah. Well, Phil, have you, have you placed your order for the new Tesla cyber truck? Phil Totaro: I have not. I went in probably the opposite direction. I bought myself an electric scooter. It goes 40 miles an hour. About what? 65, 70 kilometers an hour. Which is extremely fast and it's fun.  Rosemary Barnes: Wait, do you mean a scooter that you stand on? Like you know, not, not like a little tiny motorbike, but a,  Phil Totaro: A standup scooter Rosemary Barnes: That's too fast.  Phil Totaro: I'll tell you what, if, if you, if you look at the side of my face, you might see the remnants of a face plant that I did about three days after I got the thing, but, I'm better at riding it now, and it's, it's, I got one and it still didn't, didn't matter, but it's, it's great actually. So I, I have not I don't know that I'm planning to invest in a cyber truck anytime soon.  Allen Hall: Phil, please, please buy a helmet. Phil Totaro: I have one. Allen Hall: Well, Ørsted is having a very bad month or so. Number of problems going on there. They have, their stock has dropped the most ever. About 20, a little over 20%. Do some, some problems mostly in the United States. Supply chain challenges on projects like ocean, wind, ones, sunrise, wind revolution, wind, and having deliveries for mod piles is evidently is a problem. There's a delayed, there are so many things happening with or at the moment, Phil, and a lot of this. It seems to be things that are out of their control, supply chain issues, interest rates, also investment tax credits are not coming out to what they thought they would be. And so Mads Nipper, the CEOof Ørsted in a call and when you're, when this podcast comes out, have been a couple days ago he was not happy. And they're considering abandoning future projects. In the US because of profitability criteria is not being met. And they do plan to finish up the projects they signed up to in the northeast of the United States becaus...