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Ørsted scraps 2.25GW US offshore duo

Richard Heap
November 1, 2023

Ørsted has stopped development on its 1.1GW Ocean Wind 1 and 1.15GW Ocean Wind 2 offshore wind projects in the US due to rising costs and supply chain challenges.

The company said the cancellations had contributed to impairments of $4bn in the financial results for the first nine months of its 2023. However, the Danish utility has also made a final investment decision to begin construction on its 704MW Revolution Wind project, and is set to begin construction.

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