Free Republic

The Danish company Ørsted announced this week that it is canceling the development of its two major offshore wind projects in New Jersey, Ocean Wind I and II, blaming the poor state of the American economy under leftist President Joe Biden – a major proponent of green energy projects. Ocean Wind I and II were extremely unpopular in New Jersey, prompting widespread protests and aggressive congressional opposition led by Jersey Shore lawmakers Rep. Chris Smith (R-NJ) and Jeff Van Drew (R-NJ). Local fishing industry professionals fear the gigantic wind turbine maritime territory leases would prevent them from living off of...

BOSTON – October 31, 2023 – Following a decision by its Board of Directors, Ørsted will cease development of the Ocean Wind 1 and Ocean Wind 2 projects and has taken final investment decision (FID) on the Revolution Wind project. “Macroeconomic factors have changed dramatically over a short period of time, with high inflation, rising interest rates, and supply chain bottlenecks impacting our long-term capital investments,” said David Hardy, Group EVP and CEO Americas at Ørsted. “As a result, we have no choice but to cease development of Ocean Wind 1 and Ocean Wind 2. We are extremely disappointed to...