Energy developer delivers major blow to blue state's climate agenda by canceling offshore wind contracts
Story by Thomas Catenacci • 9h
Multinational energy developer Orsted unexpectedly withdrew from agreements with the State of Maryland to develop two offshore wind projects, citing worsening economic conditions.
Orsted announced that it had pulled out of orders which the Maryland Public Service Commission (PSC) issued years ago greenlighting the so-called Skipjack Wind 1 and Skipjack Wind 2 projects, and selecting the projects for a 20-year Offshore Renewable Energy Credit (OREC). Maryland Democrats repeatedly pointed to the Skipjack Wind development as a key part of the state's aggressive decarbonization agenda.
"Today’s announcement affirms our commitment to developing value creating projects and represents an opportunity to reposition Skipjack Wind, located in a strategically valuable federal lease area and with a state that is highly supportive of offshore wind, for future offtake opportunities," David Hardy, Orsted's group executive vice president and CEO of its Americas division, said Thursday in a statement.
"As we explore the best path forward for Skipjack Wind, we anticipate several opportunities and will evaluate each as it becomes available," he continued.
https://www.msn.com/en-us/money/markets/energy-developer-delivers-major-blow-to-blue-state-s-climate-agenda-by-canceling-offshore-wind-contracts/ar-BB1hl9Gw?ocid=msedgntp&pc=HCTS&cvid=6794ae950ca04072999493980b5e896e&ei=22
