The
move
highlights
the
difficulties
that
even
well-capitalized
developers
such
as
NRG
face
in
financing
offshore
projects
with
long
lead
times,
as
they
struggle
to
navigate
costly
permitting
and
energy
tax
policy
uncertainties
at
the
federal
level.
In
large
part,
NRG
says
its
decision
was
in
response
to
Congress
eliminating
funding
for
the
Energy
Department’s
Section
1705
loan
guarantee
programme,
and
failure
thus
far
to
extend
federal
investment
and
production
tax
credits
(PTCs)
for
offshore
wind
that
expire
next
year.
This
inaction
has
“rendered
the
Delaware
project
both
unfinanceable
and
financially…
