Friday, September 8, 2023

Wind farms are the latest Solyndra

Turbulent Times For Biden's Offshore Wind Farms As Orsted CEO Warns: Abandoning US Projects A 'Real Option' 

Tyler Durden's Photo
BY TYLER DURDEN
FRIDAY, SEP 08, 2023 - 02:45 AM

The world's largest offshore wind farm developer is preparing to walk away from US projects unless the Biden administration guarantees more support, Bloomberg reported. 

"We are still upholding a real option to walk away," Orsted CEO Mads Nipper told Bloomberg in an interview in London on Tuesday. 

Nipper continued, "But right now, we are still working towards a final investment decision on projects in America."

The Biden administration has touted offshore wind farms as an essential component of decarbonizing America's grid, but soaring inflation costs have undermined the sector's growth and left many projects dead in the water. 


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