South Jersey Climate News

South Jersey Climate News

South Jersey Climate News

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News Roundup: Offshore wind developer cancels two New Jersey projects

Ørsted cites inflation, supply chain challenges and interest rates. Gov. Phil Murphy criticizes company’s decision.
News+Roundup%3A+Offshore+wind+developer+cancels+two+New+Jersey+projects

The company that won bids to build two offshore wind farms in New Jersey and $1 billion in tax credits said it is canceling the projects.

Ørsted, a Danish wind power developer, cited factors like inflation, interest rates and supply chain issues as reasons for pulling out of the agreements.

“We are extremely disappointed to have to take this decision, particularly because New Jersey is poised to be a U.S. and global hub for offshore wind energy,” said David Hardy, Group EVP and CEO Americas at Ørsted in a press release.

New Jersey Governor Phil Murphy, who has made offshore wind power a central part of his environmental agenda, criticized the company.

“Today’s decision by Ørsted to abandon its commitments to New Jersey is outrageous and calls into question the company’s credibility and competence. As recently as several weeks ago, the company made public statements regarding the viability and progress of the Ocean Wind 1 project,” Murphy said in a statement.

The announcement leaves one offshore wind project approved for New Jersey: the Atlantic Shores project off the coast of Atlantic City. And the future of wind power in the state is in question.

For more, see this roundup of news articles:

Offshore developer cancels 2 NJ wind farms. Murphy slams decision (New Jersey Spotlight)

Developer cancels plans for 2 N.J. offshore wind farms. Outraged Murphy rips company (NJ.com)

Offshore Wind Firm Cancels N.J. Projects, as Industry’s Prospects Dim (NYTimes.com)

N.J. offshore wind projects canceled by Danish developer Orsted (Inquirer)

Ørsted walking away from New Jersey offshore wind farm plans; Murphy calls decision outrageous (Press of Atlantic City)

Danish company Ørsted pulls out of billion-dollar NJ offshore wind turbines project (NorthJersey.com)

Orsted scraps 2 offshore wind power projects in New Jersey, citing supply chain issues (6abc)

Offshore wind company pulls out of New Jersey projects, a setback to Biden’s green agenda (Politico)

Ørsted Ceases Development of Ocean Wind 1 and Ocean Wind 2 (Insider NJ)

Ørsted halts New Jersey wind power projects in blow for Biden’s clean energy plans (Axios)

White House says it is committed to offshore wind despite New Jersey setbacks (Reuters)

Democrats try to save face — and hold onto cash — after canceled New Jersey wind projects (Politico)

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