California subpoenas Golden State Wind over $120m Trump lease buyout deal
California officials issued a subpoena to Golden State Wind—a joint venture of Ocean Winds and Reventus Power—after it agreed to cancel its planned 2 GW offshore wind project off California and redirect its lease payment toward fossil fuels, per Windpower Monthly. Reuters reports California is formally probing whether the Trump administration's deal to buy out the lease was lawful. The California Energy Commission's intervention signals that state regulators are prepared to contest federal offshore wind contract cancellations, creating a live legal and regulatory risk for lease-holders and their counterparties.
Read at Windpower MonthlyØrsted Q1 profit declines sharply on US impairments and higher taxes; grid delays hit UK and German projects
Windpower Monthly reports Ørsted's Q1 2026 profits fell sharply, weighed by higher tax expenses and impairment losses linked to US operations. Recharge News notes US impairments were a primary drag even as wind resource conditions were favourable. Separately, Recharge News and Wind Power Monthly report grid connection delays are now affecting Hornsea 3 in the UK and Riffgrund 3 in Germany, pushing back revenue timelines. Asset managers holding Ørsted-operated assets in these markets should factor grid queue delays into production and cash-flow forecasts.
Read at Windpower MonthlyEach item is generated by AI from publicly available wind-energy press, with the source cited. Headlines and summaries are written by a language model and may contain errors — always check the source link. The briefing does not promote Turbit, its products, or any other predictive-maintenance vendor.
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