New jersey officials said the state will receive $125 million from a legal settlement with denmark's orsted over the company's cancellation last year of two offshore wind farm projects. Orsted wrote off $4 billion last fall, due largely to costs associated with the cancellation of its two new jersey projects. the company cited supply chain issues, inflation and a failure to gain enough government tax credits. there are currently three preliminarily approved offshore wind projects in new jersey.
Atlantic city, n.j. – danish wind farm developer orsted will pay new jersey $125 million to settle claims over the company's cancellation of two offshore wind farms last year — a little over a. Danish wind farm developer orsted will pay new jersey $125 million to settle claims over the company's cancellation of two offshore wind farms last year — a little over a third of what the. “the job impacts of orsted’s cancellation of new jersey offshore wind projects remain to be seen. it’s obviously a disappointment when any large economic development project in our state does not bear fruit. but there are still osw projects in the state queue and the solicitation of future wind projects by the state board of public utilities. New jersey officials said the state will receive $125m in a legal settlement with wind farm developer Ørsted ( otcpk:dnngy) over the company's cancellation last year of two offshore wind farm.
“the job impacts of orsted’s cancellation of new jersey offshore wind projects remain to be seen. it’s obviously a disappointment when any large economic development project in our state does not bear fruit. but there are still osw projects in the state queue and the solicitation of future wind projects by the state board of public utilities. New jersey officials said the state will receive $125m in a legal settlement with wind farm developer Ørsted ( otcpk:dnngy) over the company's cancellation last year of two offshore wind farm. New jersey state officials say they have settled their claims against offshore wind developer Ørsted, seven months after the company’s sudden cancellation of its ocean wind project sent shockwaves through the industry. Ørsted will pay $125 million to the state and new jersey board of public utilities for dropping the ocean wind 1 and ocean. Offshore wind firm cancels n.j. projects, as industry’s prospects dim. denmark’s orsted said it would be forced to write off as much as $5.6 billion as wind developers in the u.s. faced.
New jersey state officials say they have settled their claims against offshore wind developer Ørsted, seven months after the company’s sudden cancellation of its ocean wind project sent shockwaves through the industry. Ørsted will pay $125 million to the state and new jersey board of public utilities for dropping the ocean wind 1 and ocean. Offshore wind firm cancels n.j. projects, as industry’s prospects dim. denmark’s orsted said it would be forced to write off as much as $5.6 billion as wind developers in the u.s. faced.
Comments are closed.