Seatrium - CGS-CIMB Research 2023-10-13: Empire Offshore Wind Project Timeline Remains On Track

• Orsted, Equinor, BP and other renewable energy developers requested the New York Public Service Commission (PSC) to adjust prices in its power purchase agreements to incorporate inflation and other supply chain impact to 4 proposed offshore wind projects, including Empire Wind 1 and 2 that Seatrium has EPC (Engineering, Procurement and Construction) contracts for, and 86 land-based renewable projects.

New York utilities body denies financial relief to renewable energy developers

• - Read this at SGinvestors.io -
• According to the US Energy Information Administration, the average price of electricity across all end-customers in New York was 19.44 Ucents/kWh, ~47% higher than the national average of 13.19 Ucents/kWh, as of Jul 2023.
• - Read this at SGinvestors.io -

Equinor and BP have yet to assess the impact

• Read more at SGinvestors.io.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.

Read also CGS-CIMB's most recent report:
2024-01-30 Seatrium - Toning Down Our Profit Expectations.

Previous report by CGS-CIMB:
2024-01-04 Seatrium - Project Cancelled, But Still An ADD.

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