NextEra Energy CEO Jim Robo said the economics for offshore wind projects are bad for customers during an earnings call Monday. He said the company has not ventured into those projects because of the expensive costs and lengthy timeline, concluding that ultimately it is “terrible energy policy.”
NextEra has increasingly focused on renewable energy projects primarily in the United States, with thousands of megawatts of wind and solar controlled by subsidiary NextEra Energy Resources. But officials say there are plenty of onshore opportunities, making it unnecessary to invest in offshore resources.
The offshore wind industry in the United States is unlikely to heed Robo’s warnings, however. Recent solicitations have returned extremely low prices, and developers are gearing up to build several projects offshore the Atlantic Coast
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