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WindAction | Orsted delays 1st New Jersey wind farm until 2026; not ready to 'walk away' from project

Orsted, the global wind energy developer, says its first offshore wind farm in New Jersey will be delayed until 2026 due to supply chain issues, higher interest rates, and a failure so far to garner enough tax credits from the federal government. The Danish company revealed the delay during an earnings conference call Wednesday, during which it said it could be forced to write off about $2.3 billion on U.S. projects that are worth less than they had been.
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WindAction | Offshore wind  issues with Orsted U.S. wind portfolio pack major financial punch

In conducting a review of its near-term United States offshore development projects, Orsted, the Denmark-based multinational energy company, has assessed the aggregate adverse impacts relating to the supply chain, lack of favorable progress in tax credit guidance and increased interest rates, which affect its U.S. portfolio.
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