01/11/2024 - WorldOra's Carbon News
Reuters reports - Canadian pipeline company Enbridge (ENB.TO) is keen on further offshore wind investments in France, but will avoid the United States, where cost and supply chain problems have contributed to offshore projects collapsing, a senior executive said.
Rising costs have led to canceled projects in the U.S. and Britain while putting others at risk. The setbacks for offshore wind may undermine countries' targets to cut emissions from power generation.
France is the focus of Enbridge's interest because the company already has a strong partner, state-owned EDF Group, and because wind properties come with 20-year agreements to sell power to the government at prices that escalate with inflation, said Enbridge's president of power.