Ørsted, the Danish utility that Gov. Ned Lamont has lavishly accommodated with more than $300 million in renovations to New London’s State Pier, made a bombshell disclosure Tuesday that its U.S. offshore wind projects are in peril, facing a $2.3 billion loss in value. The company said it would continue to build the six new wind farms it is developing off the East Coast, although abandoning them is an option. Ørsted said it has not been successful so far in attempting to increase federal tax credits for the projects from 30% to 40%. And Tuesday’s dire warnings seem like a shot across the bow to U.S. interests hungry for renewable energy. Ørsted is not alone in blaming supply issues, inflation and rising interest rates as threatening the viability of electricity supply contracts it has already signed with New England states.
https://www.theday.com/local-columns/20230830/opinion-connecticuts-wind-partners-are-in-a-tailspin/