Why has TPL Plastech Limited (526582) performed so strongly recently - Free Stock Market Entry & Exit Signals

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Why has TPL Plastech Limited (526582) performed so strongly recently ✌️【Stock Club】✌️ Professional investment advice with real-time updates on stock indices and futures data. Stay ahead with expert predictions and market insights. After adisastrous yearmarked by high costs, accusations ofenvironmental harmandproject cancellationsin 2023, there’s a sense the US offshore wind industry is on a rebound.

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“There’s a lot of momentum in the industry right now,” said Sam Huntington, director of S&P Global Commodity Insights’ North American power team. “We’re past the nadir of the industry’s troubles.”

Offshore wind is on much more stable footing than it was last year, but some analysts aren’t ready to declare it a boom. The industry is still in its infancy in the US and plagued by many of the same problems as last year – high interest rates andlong wait timesfor components like turbine blades, generators and towers.

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But offshore wind is increasingly Trump-proof, according to a top White House climate official, wind CEOs and an industry analyst. Too much progress has been made to be fully undone by a second Trump administration.

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“The steel that’s in the ground, that’s not going to get pulled out, that’s irreversible,” Zaidi told 【 - Free Stock Market Entry & Exit Signals 】. “But if we want to go from startup to runaway success, we’ve got more work to do, and that’s going to have to happen as a partnership between the federal government, state government and the private sector.”

Why has TPL Plastech Limited (526582) performed so strongly recently ✌️【Stock Club】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. The Biden administration set an ambitious goal for offshore wind energy: to deploy30 gigawatts by 2030.

“We’re not bullish,” Huntington said. “Our latest forecast has them getting about half of that – 15 gigawatts. Unless a lot of projects get approved, and Europe gives us a whole bunch of installation vessels, I don’t see how we’re ramping up to that.”

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“This year will be a significant year for offshore wind development,” BOEM director Elizabeth Klein told 【 - Free Stock Market Entry & Exit Signals 】 in a statement. “This progress is further proof that America’s clean energy transition is not a dream for a distant future – it’s happening right here and now.”

Why has TPL Plastech Limited (526582) performed so strongly recently ✌️【Stock Club】✌️ Receive professional stock analysis with real-time updates on market movements. Make quick investment decisions and capitalize on profitable opportunities. Still, it will take years for those approved projects to come online, a timeline Huntington and offshore wind CEOs say speaks to the continuing challenges US projects face. Permitting a single project can still take years because of the multiple federal, state and local hoops developers must jump through.

Ordering equipment is another challenge. The US supply chain for offshore wind is still being built; therefore, projects are turning to European manufacturers to get blades, gearboxes, and other components.

“There’s really only three suppliers that are serving the US market” for wind turbines and the high-capacity electric cables that carry electricity back to shore, said Clint Plummer, head of New York-based company Rise Light & Power, who was formerly at Danish wind giant Ørsted. “And their lead times seem to continue to get longer.”

Compounding the problem is the fact that the US industry is so underdeveloped compared to Europe and Asia, pushing US projects to the back of the line.

“Because the US is more nascent in the development of our industry than either of those two mega markets, it simply means that we have less influence than those other regions in being able to get the attention of the manufacturers,” Plummer said.

Despite persistent headwinds, the biggest change over the past year has been that the Northeast is signing up for the electricity wind farms will generate.

Why has TPL Plastech Limited (526582) performed so strongly recently ✌️【Stock Club】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. There’s a simple explanation for that: New England and Northeast states want to make their own energy, according to Pedro Azagra Blázquez, the CEO of offshore wind company Avangrid, which is developing wind farms off the coasts of Massachusetts and New York.

“For many years, there has been no (power) generation being built,” Blázquez told 【 - Free Stock Market Entry & Exit Signals 】. Now, he said, Northeast governors “just want to make sure their states have energy.”

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Why has TPL Plastech Limited (526582) performed so strongly recently ✌️【Stock Club】✌️ Expert analysis of global stock trends, futures data, and real-time stock market quotes to help you plan your next investment move. New York has been aggressively pursuing offshore wind projects, rebidding previously canceled projects and accepting those projects at higher prices.

“The fact that that these projects that were in so much trouble were rebid and accepted at higher prices was a really positive sign for the industry,” Huntington said. But it will also mean electricity from wind will initially come at a higher cost, given supply-chain constraints and high interest rates.

Blázquez and Plummer give the Biden administration high marks for setting an ambitious goal for offshore wind and trying to ease federal permitting for the projects. But they’re also not overly worried about what a Trump administration could mean for the industry.

“Our obligation is to work well with any administration, because what is clear is these investments bring economic development, they bring jobs,” Blázquez said.

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