In a joint letter to the Biden administration in mid-September, Gov. Ned Lamont and other Northeast governors warned the Biden administration of escalating costs that could stall any new wind farm proposals. Blaming inflation and continuing bottlenecks in industrial supply chains that have “created extraordinary economic challenges that threaten to reverse these offshore wind gains,” the governors want more support to be steered to wind power under the Inflation Reduction Act to help cover the jump in wind farm costs. The governors’ plea came two weeks after Orsted warned investors it expected to incur $700 million in lower long-term profits. With no immediate outlook for industry costs ebbing, Connecticut, Rhode Island and other states may have a lengthy wait on its hands to get any developers to step up if the Biden administration does not free up funding.
https://www.stamfordadvocate.com/business/article/ct-eversource-offshore-wind-farm-avangrid-18386772.php