A ten-point action plan that New York State authorities have put forward to encourage offshore wind developers to re-bid on stalled projects is a step in the right direction, according to an executive with Equinor, co-developer of the stalled Beacon Wind and Empire Wind projects.

Equinor and joint venture partner BP submitted a petition for a major revision of terms for more than 3GW of projects in June after soaring costs and an absence of any index-linking of the original PPA offtake prices undermined profitability.