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CEO North America > CEO Life > Environment > Orsted axes major offshore wind energy projects

Orsted axes major offshore wind energy projects

in Environment
Orsted axes major offshore wind energy projects
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Danish wind energy developer Orsted is axing plans to develop two major offshore wind energy projects, the company announced late Tuesday.

Orsted will reportedly write off $4.8 billion for the scrapped New Jersey developments.

According to Orsted, the company’s termination of the developments is due to supply chain issues, a lack of tax credits and high interest rates.

The news prompts concerns about the economic viability of clean energy projects in the United States.

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