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Ørsted will cease development of the Ocean Wind 1 and 2 projects. On 29 August 2023, Ørsted announced anticipated impairments on its US portfolio of up to DKK 16 billion.
Following a decision by its Board of Directors, Ørsted announced it will cease development of the Ocean Wind 1 and Ocean Wind 2 projects off the coast of
Offshore wind developer Ørsted has delayed its New Jersey Ocean Wind 1 project to 2026. Previously, the company had announced construction of the project would begin in October 2023. The delay was attributed to supply chain issues, higher interest rates, and a failure so far to garner enough tax credits from the federal government. For now, they are not walking away from all their U.S. projects but will reconsider long-term plans by the end of this year. Ørsted’s stock price has fallen 30% in 5 days. This is just the latest bad news for offshore win.
Offshore wind developer Ørsted has delayed its New Jersey Ocean Wind 1 project to 2026. Previously, the company had announced construction of the project would begin in October 2023. The delay was attributed to supply chain issues, higher interest rates and a failure so far to garner enough tax credits from the federal government.
Ørsted, a clean-energy company, will conduct onshore site investigations and offshore geophysical surveys in Delaware this fall in support of Skipjack Wind’s development. Skipjack Wind is a 966-megawatt offshore wind