World's Largest Offshore Wind Farm-Developer Abandons Two Major US Projects As Renewable Bust Erupts

By News on the Net -- Zero Hedge —— Bio and Archives November 2, 2023

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President Biden's 'wind revolution' is blowing down as the world's largest offshore wind farm developer abandoned two major US projects due to supply chain and interest rate impacts and recorded impairment charges well above previous forecasts.

Orsted A/S announced, "US offshore wind projects have experienced further negative developments from adverse impacts relating to supply chains, increased interest rates, and the lack of an OREC (Offshore Renewable Energy Certificate) adjustment on Sunrise Wind," which has forced it to cease the development of the Ocean Wind 1 and 2 projects off the coast of New Jersey. ---More...