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"However, the significant adverse developments from supply chain challenges, leading to delays in the project schedule, and rising interest rates have led us to this decision," Nipper said. Orsted, the world's largest wind energy developer, warned in August that it might walk away from one or both of its New Jersey projects, which it said needed more financial subsidies beyond a tax break approved by the state that would have let the company keep as much as $1 million in tax credits that otherwise would have had to be returned to electricity ratepayers.
"Today’s decision by Orsted to abandon its commitments to New Jersey is outrageous and calls into question the company’s credibility and competence," the Democratic governor said. "As recently as several weeks ago, the company made public statements regarding the viability and progress of the Ocean Wind I project."
The decision was the latest in a series of setbacks for the offshore wind industry in the northeast. Two weeks ago, New York regulators rejected a request from companies for larger subsidies to complete large-scale wind, solar and offshore wind projects, saying the companies were expected to to abide by the terms of their deals with the state.
"These projects have been mishandled from the beginning by Orsted," he said. "They didn’t listen to the public and did not understand our needs or politics. They thought they would get a blank check."Tuesday. Dominion Energy received a favorable "record of decision" from federal regulators who reviewed the potential environmental impact of its plan to build 176 turbines in the Atlantic, more than 20 miles off Virginia Beach.
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