"Renewable Giant NextEra: Offshore Wind Is A Poor Investment
American renewable energy giant NextEra (NYSE:NEE) told the CERAWeek energy conference in Houston on Wednesday that offshore wind’s capital intensive nature makes it a poor investment as the world attempts to transition to clean energy.
Citing the costs of installing and maintaining infrastructure, as well as numerous complications with projects of this vast size, CEO John Ketchum told the Houston conference that NextEra–the largest producer of renewable energy in the world–finds it challenging to maintain onshore wind fleets, which are less complicated and less capital intensive than offshore.
"We find it hard enough just to take care of a fleet onshore with some of the issues that we deal with as a company, and we're best in class," he said, as reported byReuters.
Costs associated with offshore wind projects continue to mount due to complicated subsea cable installation and supply chain issues, while extreme weather and salt water corrosion are constant threats to viability".
https://oilprice.com/Latest-Energy-News/World-News/Renewable-Giant-NextEra-Offshore-Wind-Is-A-Poor-Investment.html
Are these problems for wind turbines related only to some geographic locations? Or apply to all areas?
How cost effective is electricty produced by wind turbines,both on-shore & off-shore?
STO Well positioned, page-149
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