Cost bumps in U.S. offshore wind power construction are causing new impacts to projects and developers, but recent actions by some traditional energy sector firms indicate continuing commitment to a transition to renewables.
CEO Ian Edwards says new name cements market identity not tethered to past ethics scandals, legal battles and bottom line pressures of fixed-price construction, as Canada firm builds on its Atkins unit and new needs in changing energy and transportation niches.
The contractor does not "admit or deny" charges on legacy project accounting violations, says federal regulator, but it cooperated with financial reporting probe—as agency reached similar pact with former McDermott executives in June.
Rebuilding the walls, which date to the late 1800s and early 1900s, would better protect areas along the Potomac River and Tidal Basin against water-level rise and storm surge.