Amid Ørsted announcing plans to step away last week from state agreements approving offshore wind development off Maryland, the future of the industry remains in limbo.
The company has said it is only stepping away from the financial mechanisms of the project of Skipjack 1 and 2, but will move forward with the construction phase on the lease property in questions. It is still assessing the costs associated with the combined 966-megawatt project.
Ørsted intends to continue advancing development and permitting for the combined project, including submission of its updated Construction and Operations Plan to the federal Bureau of Ocean Energy Management.
Here’s a look at what happened with what happened with Ørsted’s plans in New Jersey and what the
Ørsted announces Maryland pullback:Ørsted announces pullback in Maryland offshore wind plan as ‘no longer commercially viable’
Wind projects: What’s happening in New Jersey, Martha’s Vineyard?
According to Ørsted, “macroeconomic factors” are impacting offshore wind projects globally, leading the company to pull out of a billion-dollar New Jersey-based offshore wind project in November of last year.