Orsted Threatens To Abandon U.S. Offshore Wind Projects

The world's largest offshore wind farm developer, Orsted, may withdraw from US projects unless the Biden administration provides more support. CEO Mads Nipper has requested subsidies without domestic content requirements and asked for more time to overcome supply chain issues. The inflation crisis in the offshore wind power industry has undermined growth, jeopardizing the Biden administration's goal of achieving 30 gigawatts of offshore wind energy capacity by 2030. Orsted has faced bureaucratic uncertainties and supply chain disruptions, leading to delays and impairments on US projects.

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Frequently Asked Questions

Q: Why is Orsted threatening to abandon U.S. offshore wind projects?

A: Orsted is threatening to abandon U.S. offshore wind projects due to inadequate support and rising inflation. Source

Q: What challenges are threatening the financial viability of Orsted's U.S. offshore wind projects?

A: Orsted's U.S. offshore wind projects are facing a "perfect storm" of challenges that are threatening their financial viability. Source

Q: How much could the delays in the U.S. cost Orsted?

A: The delays in the U.S. could cost Orsted $2 billion. Source

Q: Who is the world's largest offshore wind farm developer?

A: Orsted is the world's largest offshore wind farm developer. Source

Q: Are wind turbines a significant threat to bird life?

A: Wind turbines pose only a tiny danger to bird life compared to the greater threat of climate change. Source

Q: What recent setback has Orsted faced in the U.S. offshore wind industry?

A: Orsted's U.S. projects have faced setbacks, resulting in a potential $2.3 billion impairment. Source