Jul 19, 2019

New York inks largest offshore wind agreement in the U.S.

Illustration: Lazaro Gamio/Axios

New York State officials yesterday announced that Norway-based Equinor and a joint venture that includes Denmark's Orsted had won the solicitation to build 2 large offshore wind projects totaling around 1.7 gigawatts.

Why it matters: It's the biggest offshore wind agreement in the U.S. to date and, per New York Gov. Andrew Cuomo's office, will provide enough electricity for over 1 million homes.

  • The projects — one from Equinor and another from Orsted-Eversource Energy JV — are slated for completion by 2024, per Greentech Media.

Quick take: It highlights something we wrote about in March — the marriage of aggressive policies in northeastern U.S. and deep-pocketed, experienced Europe-based players is finally jumpstarting offshore wind in the U.S.

Where it stands: Action in several states is leading some analysts to revise their projections for U.S. offshore wind.

  • BloombergNEF recently upgraded their forecast to 15.4 GW of U.S. offshore wind capacity by 2030, up from 11.4 GW in their prior analysis.
  • Max Cohen of IHS Markit says that consultancy will soon be revising its estimates too, from the current projection of 7 GW by 2030.
  • Combine the "flurry" of contracting from New York and New Jersey with the legislative mandates for offshore wind in N.Y., Connecticut and Maryland, and the estimate rises a lot, Cohen says via email.

The bottom line: "These are very positive sign posts for the industry, and though there are still risks and some of these projects/targets could be delayed, we are tentatively thinking more like 11 GW by 2030 is likely," Cohen says.

Go deeper: Prices of renewable energy sources plummeted between 2009 and 2017

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Netanyahu says July 1 deadline for West Bank annexation won't change

Photo: Artur Widak/NurPhoto via Getty Images

Israeli Prime Minister Benjamin Netanyahu said Monday at a Likud Party faction meeting at the Knesset, Israel's parliament, that his July 1 deadline for starting the process of annexation in the West Bank will not change, according to people in attendance.

Why it matters: The White House and the State Department have stressed over the last few weeks that the deadline set by Netanyahu is "not sacred" to the Trump administration — and that any discussion of annexation needs to be in the context of renewed Israeli-Palestinian peace talks.

Trump threatens to move Republican convention from North Carolina if capacity reduced

President Trump on stage during the 2016 Republican National Convention in Ohio. Photo: Bill Clark/CQ Roll Call via Getty Images

President Trump threatened in a series of Monday tweets to move this summer's Republican National Convention from Charlotte if North Carolina's Democratic governor, Roy Cooper, doesn't allow the event to be held at full capacity.

The state of play: Mandy Cohen, the state's health and human services secretary, said last week that the GOP should "plan for the worst" as mass gatherings will be a "very big challenge" if the number of coronavirus cases in the state continues to increase, per NPR.

The wreckage of summer

Illustration: Sarah Grillo/Axios

We usually think of Memorial Day as the start of the summer, with all of the fun and relaxation that goes with it — but this one is just going to remind us of all of the plans that have been ruined by the coronavirus.

Why it matters: If you thought it was stressful to be locked down during the spring, just wait until everyone realizes that all the traditional summer activities we've been looking forward to are largely off-limits this year.