While the Biden administration has touted its landmark clean-energy subsidy program to kick-start projects, developers must ensure a large chunk of components are U.S. made to take full advantage of the incentives, and that’s proving hard to achieve. “We are still upholding a real option to walk away,” Orsted Chief Executive Officer Mads Nipper said in an interview in London. “But right now, we are still working toward a final investment decision” on projects in America. It’s a tough time for offshore wind globally, with costs for steel and other materials spiraling higher just as countries push to add more turbines. Biden administration officials working to implement the Inflation Reduction Act’s tax provisions have emphasized that the domestic content bonus is an added incentive meant to help spur new clean-energy supply chains inside the U.S.
https://www.theday.com/nation/20230905/orsted-ready-to-abandon-u-s-wind-projects-as-it-asks-for-help/