Offshore wind projects may be cancelled in NJ, according to report
Already facing a series of lawsuits and opposition from state and local officials, Danish wind power developer Orsted is reporting huge financial losses. Those losses, company officials warned, could reach $2.3 billion in the U.S and may force the cancellation of projects of the New Jersey coast. In a conference call with investors, Orsted CEO Mads Nipper told them, “If the walk-away scenario is the economical, rational decision for us, then this remains a real scenario for us.” Orsted is considering “walking away” from or cancelling projects in New Jersey, New York, Rhode Island, Connecticut and Maryland. >>click to read<< 08:48
World news “Germany” you need to translate the Orsted interview; Orsted is not walking away from the three Industrial Offshore Wind Energy Development sites off New Jersey that they have invested in. They just pointed out that the return on investment has dropped to 17% which is within monetary guidance parameters. They will be seeking an additional $2 billion from the USA federal governmant (Taxpayers) to help offset expences to increase profit margins.