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Offshore Undertow

Siemens Gamesa backs out of offshore Virginia deal

It's a case of deja vu today in the world of wind power. After Orsted's controversial decision to scrap its vaunted offshore wind farm off the New Jersey coastline last week, another major project is reportedly following suit. Siemens Gamesa (SGRE), the renewable energy arm of Siemens, is pulling out of a deal previously planned for the Virginia coastline.

Siemens Gamesa confirmed the cancellation in a statement Friday. The company’s proposed $200 million factory at the Port of Virginia in Portsmouth would have created more than 300 jobs and aided the state in its aspirations to become a hub for offshore wind projects as part of the nation’s efforts to tackle climate change.

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