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ATLANTIC CITY, N.J. (AP) — Wind energy developer Orsted is writing off $4 billion, due largely to the cancellation of two large offshore wind projects in New Jersey whose financial challenges mirror those facing the nascent industry. Some projects already have been canceled, and many offshore wind developers are seeking better terms from governments with whom they have already contracted. Despite the challenges, some wind projects are moving forward. Orsted said it is proceeding with its Revolution Wind project in Connecticut and Rhode Island. And New Jersey still has several other offshore wind projects in various stages of development, with four new proposals submitted in August alone.

Persons: ” Mads Nipper, “, ”, Louis Knight, Biden, Jeff Van Drew, “ David, Goliath, Robin Shaffer, Orsted, ___, Wayne Parry Organizations: CITY, New, Orsted, Northern, World Meteorological Organization, Sierra Club, “, U.S, Government, Office, Republican, Dominion Energy, Virginia Beach, American Clean Power Association, Oceantic Network, Shell, EDF Renewables, Atlantic Locations: N.J, New Jersey, Danish, U.S, New England, Carolinas, New York, Coast NJ, Connecticut, Rhode, Virginia, Atlantic Shores, EDF Renewables North America, www.twitter.com

SEASIDE HEIGHTS, N.J. (AP) — A proposed wind energy project off New Jersey would be among the farthest from land on the East Coast, the New York-based development company said Monday. Wind power developers have struggled to make progress, however, due to supply chain issues, higher interest rates, and a failure so far to garner enough tax credits from the federal government. Orsted, the Danish wind energy company, would build its first project about 13 to 15 miles off the coast of Atlantic City and Ocean City. “Offshore wind development makes no sense from either an environmental or economic standpoint,” he said. It is pursuing another offshore wind project in New York about 50 miles south of Jones Beach.

Persons: —, Damian Bednarz, ”, “, Bednarz, Orsted, Robin Shaffer, ___, Wayne Parry Organizations: Energy, Associated Press, Community, Grid, Office, New, New Jersey Wind, Corio, Twitter Locations: N.J, New Jersey, East Coast, New York, Seaside, East, Chicago, Long, Essen, Germany, Atlantic City, Ocean City, Coast NJ, Paulsboro, Jones Beach, Houston, Boston, London, www.twitter.com

☆ Opinion | Clean Energy’s Fate May Be Decided on the Jersey Shore
▼ + stars: | 2023-09-05 | by ( Elizabeth A. Cerceo | ) www.nytimes.com time to read: +1 min

Over the past few months, hundreds of Jersey Shore residents have staged demonstrations opposing Ocean Wind 1, an offshore wind farm being developed by a subsidiary of Orsted, a Danish company. Some have painted these anti-wind crusaders as Jersey Shore versions of the Cape Cod residents fighting to preserve the view from their multimillion-dollar homes. New wind turbines, solar panels and other clean energy infrastructure are being built before our eyes, and in some cases in our hometowns. Oil and gas companies, which have a lot to lose, have exploited this feeling to great effect. Other groups fighting wind projects say they want to protect whales but are funded by oil interests.

Persons: Caesar Rodney Organizations: Cape Locations: Cape May, Jersey Shore, Orsted, Danish, Atlantic City, New Jersey, Jersey, America, Our Coast NJ

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