Offshore Wind Firm Cancels N.J. Projects, as Industry’s Prospects Dim

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https://www.nytimes.com/2023/11/01/business/energy-environment/offshore-wind-farm-new-jersey.html

By Stanley Reed and Tracey Tully, The New York Times. 

Excerpt: Plans to build two wind farms off the coast of New Jersey were scrapped, the company behind them said on Wednesday, a blow to the state’s efforts to cut greenhouse gas emissions and the latest shakeout in the U.S. wind industry. ...Offshore wind and other parts of the renewable industry have hit some snags in Europe, especially in Britain. But Mr. Nipper said the problems were more acute in the United States because early contracts lacked protection from inflation and developers incurred high costs because of delays in approvals during the Trump administration. ...In its announcement, Orsted said it would move forward with a $4 billion project called Revolution Wind intended to supply power to consumers in Rhode Island. And other developers have projects under construction, like Vineyard Wind, which will eventually have 62 turbines in the waters off Martha’s Vineyard, Mass.... 

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