Off Long Island, wind farms are testing the waters
European energy developers like Statoil and Dong Energy are making big investments in US wind power
New York
ONLY a few years ago, the long-held dream of harnessing the strong, steady gusts off the Atlantic coast to make electricity seemed destined to remain just that. Proposals for offshore wind farms foundered on the shoals of high costs, regulatory hurdles and the fierce opposition of those who didn't want giant industrial machinery puncturing the pristine ocean views.
Now the industry is poised to take off, just as the US political landscape and energy policy itself face perhaps the greatest uncertainty in a generation.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Indonesia bets on creative economy, IP for growth amid rising global competition
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Fintech titans GCash and Maya test IPO goals as Philippine market thins