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Seb Kennedy's picture
Founding Editor, Energy Flux newsletter

I am professional energy journalist, writer and editor who has been chronicling the renewables and fossil fuel energy sectors since 2008.  I am passionate about the energy transition, so much so...

  • Member since 2020
  • 103 items added with 54,400 views
  • Dec 9, 2021
  • 791 views

European oil majors are jostling to become offshore wind heavyweights. Building capital-intensive projects at scale in familiar offshore environments, underpinned by guaranteed returns, has proved alluring. But cost inflation and aggressive bidding at cut-throat ‘subsidy-free’ auctions have eviscerated margins. Energy Flux takes a critical look at new research into the sketchy economics of offshore wind for the likes of Equinor, Shell, BP and ENI.

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Bob Meinetz's picture
Bob Meinetz on Dec 9, 2021

Seb, how is wind ever a "guaranteed return"? Even with power purchase agreements, electricity customers are only able to purchase what's available. And in the UK last summer, it wasn't much.

UK energy titan SSE says low wind, driest conditions in 70 years hit renewable generation

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Thank Seb for the Post!
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