Vineyard Offshore cuts 50 jobs amid 'market uncertainty.' What it means for Vineyard Wind.

Vineyard Offshore cites "market uncertainties" as the reason for the layoffs. A company spokesperson said shareholders are "fully committed" to Vineyard Wind.

Vineyard Offshore, which is behind the 1,200-megawatt Vineyard Wind 2 project proposed south of Martha's Vineyard and Nantucket, has eliminated 50 jobs, citing recent market uncertainty.

However, none of the reductions — including both layoffs and elimination of some positions across the company — affect the Vineyard Wind project, according to a company representative.

“The Vineyard Wind project, including its staff and contractors, remains unaffected by Vineyard Offshore’s changes. Its shareholders are fully committed to ensuring the project's successful completion," said a company representative by email on Wednesday.

Vineyard Offshore is an affiliate of Denmark-based Copenhagen Infrastructure Partners, which is a partner with Avangrid on the 800-megawatt Vineyard Wind 1 project now under construction south of the Islands. Besides Vineyard Wind 2, the company is working on the 1,350-megawatt Excelsior Wind project off Long Island in the New York Bight area, and a project off the coast of Humboldt County in Northern California.

“Vineyard Offshore believes that offshore wind is a vital part of the nation’s future energy independence," the representative said.

The company emphasizes its long-term goal of producing more than 6 gigawatts of power from its offshore projects, "while creating thousands of jobs and fueling economic growth."

But at this time, the representative said, "in an effort to position our projects for sustainable long-term success we have made the difficult decision to reduce our current team size in light of recent market uncertainties," and "we look forward to continuing to advance these transformative American energy projects in the years ahead."

President Trump's executive order on offshore wind projects

The reductions come in the wake of President Donald Trump's executive order, issued on Jan. 20, to stop new offshore projects. The order suspends sale of new offshore wind leases and permitting for new projects, pending an environmental and economic review. Previously permitted projects, like Vineyard Wind 1, are not affected.

Vineyard Wind 2, however, is on hold for now after the company withdrew from contract negotiations with Massachusetts in December — 800 megawatts of the project were selected by the state in the last wind power procurement round, but that selection was contingent upon Connecticut buying a remaining 400 megawatts. When Connecticut passed on the purchase in December, the company withdrew the project. A Vineyard Offshore representative indicated at the time that the company will advance the project in a future solicitation.