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Orsted - 2 ” Orsted - 2 Phil Murphy - 1 Alexandra Altman - 1 Murphy - 1 Wayne Parry - 1
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Search resuls for: "” Orsted"


2 mentions found


☆ Orsted Wants Out of $300M Forfeiture for Scrapped New Jersey Offshore Wind Farms
  + stars: | 2023-11-06 | by ( Associated Press | Nov. | At P.M. | ) www.usnews.com   time to read: +3 min
OCEAN CITY, N.J. (AP) — Offshore wind power company Orsted is trying to get out of a $300 million guarantee it agreed to pay New Jersey in the event it failed to build its first wind farm off the state's coast. Last Tuesday, the Danish firm scrapped its Ocean Wind I and II projects in southern New Jersey, saying the projects were no longer financially feasible. It also was obligated to pay an additional $200 million toward the development of the offshore wind industry in New Jersey. Orsted wrote off $4 billion last week, due largely to costs associated with the cancellation of its two New Jersey projects. New Jersey still has several other offshore wind projects in various stages of development, with four new proposals submitted in August alone.
Persons: Orsted, ” Orsted, Phil Murphy, Alexandra Altman, Murphy, Wayne Parry Organizations: CITY, New, New Jersey Board of Public Utilities, Gov, Republican, Shell, EDF Renewables, Twitter Locations: N.J, New Jersey, Danish, ”, . New Jersey, Atlantic Shores, EDF Renewables North America, www.twitter.com
☆ Wind Energy Giant Orsted Says Delays in U.S. May Cost $2 Billion
  + stars: | 2023-08-30 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com   time to read: +1 min
The company said that the projects were being hit by delays and increased costs on suppliers, like wind turbine component manufacturers and the specialized ships needed to install the large machines, whose blades are as long as football fields. “There is a continuously increasing risk in these suppliers’ ability to deliver on their commitments and contracted schedules,” Orsted said in a statement on Tuesday. The company said that the sharp rise in interests rates would increase costs in the United States. Orsted also said that it might not be able to achieve tax credits from the United States as large as it previously anticipated. The impairments amount to about half of the $4 billion that Orsted said it had invested in its offshore portfolio in the United States but are only a fraction of the value of these projects and the company’s overall American plans.
Persons: ” Orsted, Orsted Locations: United States
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