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November 21, 2024
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OSW Developers Seeking More Money from New York
Beacon, Empire, Sunrise Say Deals Negotiated Years Ago No Longer Viable
In a petition Wednesday, developers sought higher payment for the Sunrise Wind project in New York, saying they did not think they could obtain financing under terms negotiated a few years ago.
In a petition Wednesday, developers sought higher payment for the Sunrise Wind project in New York, saying they did not think they could obtain financing under terms negotiated a few years ago. | Shutterstock
Developers of offshore wind in New York said Wednesday that decades-high inflation and interest rates mean deals negotiated years ago aren't viable anymore.
New YorkOffshore Wind PowerState and Local Policy