The Trump administration told them it could continue to make the process drag out for more years as it has been or they could spend the money on fossil fuels. It was not any kind of market decision.
They didnt cancel the contracts, they paid the companies to stop doing work that those companies(i.e. the market) wanted to do
> Further, offshore wind is expensive in terms of maintenance. Stopping the project now is protecting billions in expenses in the future.
Source yourself that this is worth it as per the market if you are going to claim this is a market decision
?
All power plants have maintenance charges. Unless I missed something, this statement is a non sequitur.
On top of that, Wind is practically free compared to the maintenance and running coats of other options.
The RWE paid 1.26 billion to acquire the lease on offshore wind. Payment is a refund.
Further, offshore wind is expensive in terms of maintenance. Stopping the project now is protecting billions in expenses in the future.