UK wind farm becomes world's biggest white elephant | Beaufort County Now | but it is the Norwegians who are losing money on it

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Norway's state owned oil company Equinor, flush with profits from its North Sea oil and gas operations, decided to "virtue signal" by investing in green energy, but according to a recent report compiled for the Norwegian government, that has blown up in its face.  Equinor has invested billions in the Dogger Bank wind farm in the North Sea off of the UK, the world's largest wind farm, but the fair market value of its stake in the project is now MINUS $970 million, and the operating costs make it unprofitable to operate, according to the study prepared at the government's request by university researchers.  Equinor managed to stem some of its losses by offloading part of its stake to a Spanish energy company which now bears part of the red ink.

https://stopthesethings.com/2021/12/13/wanton-waste-worlds-largest-wind-farm-worlds-largest-white-elephant/

https://www.upstreamonline.com/exclusive/worlds-largest-offshore-wind-farm-unprofitable-for-equinor-say-government-funded-researchers/2-1-1098012?mc_cid=9ceda914eb

Biden's federal regime and Cooper's NC regime (with a big assist from RINOs in the General Assembly) are on this same destructive kick.  These projects will kill lots of birds, hypnotize lots of crabs, and do other environmental damage, but they will not make electricity economically.  Electric consumers and taxpayers will be the ones ultimately paying for their "virtue signaling".


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