Orsted scraps 2 offshore wind power projects in New Jersey, citing supply chain issues ...Middle East

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Orsted scraps 2 offshore wind power projects in New Jersey, citing supply chain issues
ATLANTIC CITY, N.J. – Danish energy developer Orsted said Tuesday night it is scrapping two large offshore wind power projects off the coast of New Jersey, adding uncertainty to a nascent industry the Biden administration and many state governments are counting on to help transition away from the burning of planet-warming fossil fuels. The company said it is canceling its Ocean Wind I and II projects in southern New Jersey, citing supply chain issues and rising interest rates. Orsted CEO Mads Nipper said in a statement the company was disappointed to be halting the projects because it believes the United States needs wind power to reduce carbon emissions. “However, the significant adverse

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