Ørsted pulls out of two NJ offshore wind farm projects
Nov. 10 (ZFJ) — Ørsted has pulled out of developing two offshore wind farms, set to have been New Jersey’s first ones, due to economic challenges, the company announced on Tuesday, Oct. 31.
“Macroeconomic factors have changed dramatically over a short period of time, with high inflation, rising interest rates, and supply chain bottlenecks impacting our long-term capital investments,” said David Hardy, group executive vice president and CEO of Ørsted Americas.