Nov 16 (Reuters) - New York State will issue a new offshore wind solicitation on Nov. 30 with bids due in January 2024, the state government said, in a move that should lend support to the troubled industry.
The solicitation will be open to bidders with existing contracts to sell power from offshore wind projects. Final proposals for offshore wind power will be due Jan. 25 with award announcements expected by the end of February 2024, New York Governor Kathy Hochul said in a release.
By including bidders with existing contracts, the state's plan could provide a lifeline to projects being developed by several European energy firms, including Orsted , Equinor and BP.
The companies have warned that they could cancel their projects as uneconomic after failing to increase the amount of money they would receive for the power produced once their projects enter service as soaring inflation and interest rate hikes and supply chain problems boosted the cost to build and finance their projects. (Reporting by Scott DiSavino; editing by Jonathan Oatis and Nick Zieminski)