Orsted CEO Says Abandoning US Wind Projects a 'real option'

Orsted Chief Executive Mads Nipper - Credit: Orsted (file image)
Orsted Chief Executive Mads Nipper - Credit: Orsted (file image)

Denmark's Orsted, the world's largest offshore wind farm developer, is prepared to walk away from projects in the U.S. unless the Biden administration guarantees more support, Bloomberg News reported on Tuesday, citing the company's CEO. 

"We are still upholding a real option to walk away," Orsted CEO Mads Nipper told Bloomberg News in an interview. "But right now, we are still working towards a final investment decision on projects in America." 

Last week Orsted said it may see U.S. impairments of 16 billion Danish crowns ($2.3 billion) due to supply chain problems, soaring interest rates and a lack of new tax credits. 

($1 = 6.9488 Danish crowns) 

(Reporting by Gursimran Kaur in Bengaluru; Editing by Jan Harvey)

Current News

Woodside to Operate Bass Strait Assets

Woodside to Operate Bass Strai

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

Yinson, PTSC Get $600M Contrac

Bourbon to Deliver Next-Gen Crewboats for Eni’s Congo Operations

Bourbon to Deliver Next-Gen Cr

Inyanga Marine to Operate Hybrid Vessel for Offshore Wind Sector

Inyanga Marine to Operate Hybr

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine