EDP can't 'take the risk' of moving forward with US wind projects
“Several hundred megawatts” of planned onshore wind farms in the US remain on indefinite hold EDP’s CEO told Semafor.
EDP, a Portuguese wind energy developer, is hesitant to proceed with US wind projects due to potential administrative roadblocks, according to its CEO Miguel Stilwell d’Andrade. Several hundred megawatts of planned onshore wind farms in the US are currently on indefinite hold, he revealed to Semafor. A federal judge recently ordered the Department of Defense to advance applications for wind farm licenses that had been delayed due to national security concerns.
However, EDP has paused its own projects out of concern for squandering capital if future obstacles arise. Stilwell d’Andrade lamented, "We have several projects we'd like to move forward with, but we can't take the risk." He emphasized the impracticality of abandoning these projects due to their potential to significantly lower energy costs.
Despite this setback, EDP remains committed to its $5 billion investment target in the US, stating, "We’ve ridden out various different political and economic cycles before, and we’ll continue to be here for the long run."
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
