Rising interest rates threaten to take the wind out of renewables' sails

Worries over costs of borrowing lead to special session at COP27.

Earlier this month, Avangrid AGR 0.00%↑, a subsidiary of Spanish energy giant Iberdrola (IBDRY), petitioned the state of Massachusetts to renegotiate its deal to build Commonwealth Wind, a giant offshore project near Martha’s Vineyard.

It used strong language, saying that its project is “no longer viable and would not be able to move forward” as it complained abou…