D'oh! Another offshore wind project goes blade tips up

Hotair ^ | 07/20/2023 | Beege Welborn

[Steely Tom]

Vattenfall will stop the development of a major wind project in the UK after a surge in costs.

How dare you!

[rktman]

Mor subsidies! STAT!

[mylife]

yup, its crap

[cuz1961]

[Nervous Tick]

>> “We are at a tipping point”

Uh oh... with wind turbines, you DO NOT want to be at a tipping point... ROFL!

[Steely Tom]

Hooboy.

[PGR88]

[Lean-Right]

Business practices dictate contracts
which are agreed upon by both parties.
If the contractor underbid, he eats
the loss, regardless of increased cost
of materials, or labor.
This green energy implementation, being
in it’s infancy, is speculative at most.

[Robert A Cook PE]

Siemens Energy Gemesa (its European controlled Wind Energy section) stock was destroyed in value two weeks ago, and Siemens Energy total corporation stock lost 1/3 of its value the last week in June this year.

[Alberta's Child]

If the contractor underbid, he eats the loss, regardless of increased cost of materials, or labor.

That’s not how it works. The contractor stops work on the project and (potentially) goes out of business.

[Lean-Right]

A contract is just that. A promise to
complete the job contracted for. Take
his incompetence to court and see who wins.
If said contractor misses the mark to
the point of going broke, he’s in the
wrong business.

[Adder]

40%?!!
Guess the cost of fuel went up...

/s

[COBOL2Java]

I was shocked visiting my grandson in Peoria IL. Those wind farms are everywhere

[Alberta's Child]

The contractor isn’t taking anyone to court. It simply stops work on the project.

The project owner isn’t taking anyone to court, either. It’s an expensive undertaking and is pointless if the contractor simply ends up in bankruptcy.

I work in a field where we deal with this sort of thing periodically. When I see stories like this, there are two questions that immediately come to mind:

1. Was the energy infrastructure project contracted by a government agency?

2. If so, was the contractor required to post a construction bond or performance bond to protect the project owner?

Question #2 is important. Without this bond, you run the risk of these ridiculous scenarios where you have contractor performance issues on a $3B to $4B project that you’d typically see with some fly-by-night contractor botching a home addition project.

[popdonnelly]

This new technology ain’t working.

[SaveFerris]

YIKES!!!!

[Deplorable American1776]

Vattenfall, your countrybitch, Greta Thundberg, might go to your headquarters and say, ‘How Dare You!’ 🤓

[sit-rep]

I bet if we had a real bottom line figure of total costs to date vs total true output value of all existing wind and solar projects what those numbers would actually show and just how it would be accepted by the masses...

[sit-rep]

I bet it would start a revolution...